CBOT Soybean Futures Fall 3.4% as Crude Oil Plunges 9% on De-escalation Hopes

On Monday, CBOT soybean futures closed sharply lower, with the benchmark contract declining 3.4% and erasing most of last week's gains. The decline was driven by a steep near-9% plunge in crude oil futures following the United States' decision to pause airstrikes against Iran over the weekend. The de-escalation raised hopes for diplomatic resolution and restored shipping through the Strait of Hormuz, easing geopolitical risk premiums in global commodities markets. Traders noted that reduced risks in key shipping lanes could help normalize global food transport and ease supply concerns. Strong U.S. soybean export demand provided underlying support to prices.
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