Good afternoon, you're tuned in to Markets Desk.
In the grain pits today, corn is under meaningful pressure at midday, with futures down three to five and a quarter cents. The national average cash corn price has slipped to four dollars and eighteen and a quarter cents, and crude oil is adding to that weight, falling nearly four dollars on renewed optimism around a potential US-Iran nuclear agreement, which would ease supply concerns and drag energy-linked commodities lower alongside it.
Wheat is telling a more divided story. The winter wheat contracts are leading the losses, with Chicago soft red winter futures off eight to nine cents and Kansas City hard red winter down three to four cents at midday. Minneapolis spring wheat is bucking that trend, trading modestly higher by three to five cents, suggesting demand dynamics and regional weather conditions are pulling the complex in different directions.
Shifting from commodities to housing policy, New York City Mayor Zohran Mamdani has released a detailed affordable housing agenda targeting lower and middle income New Yorkers. The plan centers on new construction, zoning reforms to encourage apartment density, and homebuyer assistance programs, representing an ambitious municipal push to address one of the most acute affordability crises in the country.
That's the tape. Markets Desk, signing off the floor.
