Iran war could trigger higher corn prices

Corn and soybean prices have moderated in recent weeks after spiking in the immediate aftermath of the initial U.S. strikes on Iran on February 28. But whether prices will continue to rise this summer will depend on how long conflict in the Middle East continues, according to Faith Parum, an economist with the American Farm Bureau Federation.

The U.S. Department of Agriculture's (USDA) March 31 Prospective Plantings report suggests U.S. farmers will plant 95.3 million acres of corn this year, down 3% from 2025. Soybean acreage is expected to rise 4%, likely driven by strong U.S. demand for biofuel and relatively lower input costs.