DELMARVA — Grain futures closed lower across the board Thursday, with a newly signed U.S.-Iran Memorandum of Understanding drawing part of the blame for the market downturn.
Frayne Olson, ag economist with North Dakota State University Extension, says the peace deal is generating real frustration among farmers as grain prices dropped in its wake. Olson notes futures are tied to broader economic forces, and shifting input costs are adding another layer of uncertainty.
There is a silver lining on soybeans, however. China has returned as a buyer of U.S. farm commodities, according to Tommy Grisafi of Ag Bull Trading. Grisafi says recent tariff reductions have made American grains significantly more appealing to Chinese buyers, and soybean demand is picking up.
Markets
At Thursday’s close, July corn settled at $4.17½, down 3½ cents. July soybeans fell 9¼ cents to close at $11.22¾. July Chicago wheat dropped 7 cents to $6.05¾.
In livestock, August live cattle declined $2.22 to $246.62. July lean hogs bucked the trend, finishing up 37 cents at $95.02.
At Laurel Grain Company in Laurel, Delaware, December corn is bringing $4.59 per bushel, and November soybeans are at $10.93.
Forecast
Thursday evening stays warm following a high of 93°F under mostly sunny skies. Overnight lows will drop to 70°F with mostly cloudy conditions. On Friday, Juneteenth, a chance of rain showers is expected with a high of 80°F. Producers should plan field work accordingly.
This article is based on the Delmarva Farm Report Update Evening Edition, June 18, 2026. Hosted by Tom Bradley.
