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Iran stated that the Strait of Hormuz will be open for free passage for a limited period of 60 days.

Golden Ten Data July 1st: All three major U.S. stock indexes rose across the board on Tuesday, with the S&P 500 Index and the Nasdaq Index on track to post their largest quarterly gains since 2020, and the Dow Jones also poised for its best quarterly performance since 2022. Despite ongoing conflict in the Middle East, investors remain optimistic about the economic outlook and corporate earnings. Signs of progress in recent ceasefire talks in Iran have bolstered market sentiment, although renewed clashes over the weekend have put pressure on the prospects for an agreement. “The performance in the first half of this year far exceeded most people's expectations,” said Oliver Pursche, Senior Vice President at Wealthspire Advisors. “Despite continuous geopolitical turmoil, the fundamentals of the U.S. economy are strong, and corporate earnings are quite robust.” Following a stellar Q1 earnings season, investors are now focusing on the Q2 results to be released in the coming weeks.

CBOT corn futures rose by 1.51% to $4.3650 per bushel, recording an 8.20% cumulative decline in June. CBOT wheat futures rose by 1.34% to $5.8750 per bushel. CBOT soybean futures rose by 0.40% to $11.4350 per bushel, once rebounding from a daily low near $11.2475 to a new high at $11.5650, with a cumulative decline of 4.33% in June. In June, soybean meal futures fell by 5.34% and soybean oil futures fell by 6.95%. In June, CBOT lean hog futures cumulatively fell by 0.20%, live cattle futures rose by 0.88%, and feeder cattle futures rose by 4.02%. ICE raw sugar futures rose by 1.85%, while ICE white sugar futures rose by 5.15%. ICE Arabica coffee futures jumped 18.26% cumulatively, and coffee “C” futures rose by 16.80%. Robusta coffee futures rose by 10.50%. New York cocoa futures surged by 26.63% to $5,064 per ton. London cocoa futures increased by 29.24%. Chicago WCE canola futures fell by 6.73%. ICE cotton futures fell by 3.56%.