CBOT soybeans tick higher as traders weigh impact of Iran war
CHICAGO, March 23 (Reuters) - Chicago Board of Trade soybean futures flitted between positive and negative territory on Monday but ended higher as U.S. President Donald Trump's announcement of a delay to possible strikes against Iranian power plants roiled financial markets.
Trump's comments, which also referred to productive talks with Iran, sent oil prices tumbling as investors saw a sign of de-escalation in the three-week U.S.-Israeli war with Iran that has disrupted global energy supply. O/R
However, Iranian denials of talks with Washington curbed the slide in crude and led grain prices to pare losses.
Traders are also grappling with how rising fuel and fertiliser prices may influence U.S. farmers' allocation of acres for corn and soybeans this spring.
The U.S. Department of Agriculture said exporters sold 102,000 metric tons of corn to Mexico for 2025/2026 delivery.
Brazilian farmers had harvested 68% of their 2025/26 soybean crop as of last Thursday, agribusiness consultancy AgRural said on Monday, up 8 percentage points from the previous week but below the 80% reported a year earlier.
CBOT May soybeans SK26 settled 2-1/4 cents higher to $11.63-1/2 per bushel.
CBOT May soymeal SMK26 fell $1.4 to $326.60 per short ton.
CBOT May soyoil BOK26 ended up 0.07 cent at 65.58 cents per pound.
