As a result of the news of the agreement being reached, the grain risk premium has fallen.

With news over the weekend of an agreement reached between the United States and Iran, and the reopening of the Strait of Hormuz for shipping, the risk premium seen in grain futures on the Chicago Mercantile Exchange is rapidly dissipating. Joe Davis of Futures International stated in a report that traders this week are shifting their focus towards more traditional factors that typically influence grain futures trends at this time of year, as evidenced by the latest Commodity Futures Trading Commission report. Davis said, "Funds have significantly cut long positions in soybeans and increased short positions in wheat, reflecting increasing confidence in favorable crop weather conditions and weakening price momentum." Pre-market, corn prices on the Chicago Mercantile Exchange fell by 1.5%, soybean prices fell by 1%, and wheat prices fell by 2.1%.