GRAINS-Chicago soybean, grain futures rise after Trump vows to keep up Iran attacks

BEIJING, April 2 (Reuters) - Chicago Board of Trade corn, wheat, and soybean futures rose on Thursday following U.S. President Donald Trump's televised address, in which he said that the war with Iran would soon end, without committing to a timeline.

Trump said on Wednesday night that the U.S. will carry out aggressive strikes on Iran over the next two to three weeks and is nearing completion of its main strategic objectives in the war.

Grain prices followed crude oil prices higher, recovering from earlier losses when markets had anticipated a more dovish tone from the president.

The most-active soybean contract Sv1 was up 0.36% at $11.72-3/4 a bushel, as of 0209 GMT. Wheat Wv1 added 0.84% to $6.02-1/2 a bushel, while corn Cv1 rose 0.5% to $4.56-1/2 a bushel.

"Grains and oilseeds are heavily influenced by crude oil," said Rabobank analyst Vitor Pistoia.

"This means the likelihood of higher fertiliser prices leading to reduced input use, which lowers yields and drives prices higher to maintain farmer profitability. Meanwhile, rising oil prices would incentivise biofuel production, further supporting oilseed prices."

U.S. farmers plan to plant less corn and more soybeans in 2026 than last year, the U.S. Department of Agriculture said on Tuesday.

Analysts expect that the impact of the Iran war on fertiliser and fuel prices will prompt farmers to shift even more acreage from corn to soybeans than projected by the USDA.

Wheat futures are being supported by persistent dryness in the U.S. Plains, which is threatening to curb winter crop yields.

Beneficial rains were expected in the U.S. southeastern Plains, though dryness will continue to cause stress for crops in western areas, forecasters said.

Commodity funds were net sellers of CBOT corn, soybeans, wheat, and soyoil, traders said on Wednesday. CBOT/FUNDS