Grain futures fall due to news that the Strait of Hormuz is now open.

Chicago Board of Trade (CBOT) grain futures fell, appearing to follow the downward trend of crude oil futures; previously, Iran's foreign minister stated that the Strait of Hormuz is "fully open" to merchant ships, leading to a plunge in crude oil futures. Arlan Suderman of StoneX said in a report that Iran's statement is the first step in the long process of normalizing the situation in the region. Chicago Board of Trade corn futures fell by 0.7%, soybean futures dropped by 0.7%, and wheat futures declined by 1.9%.