05/07/2026 Markets Await Iran’s Response Click Above to Watch the Morning Market Talk Video Markets Await Iran’s Response On the Grains Wednesday’s heavy selling in the grain and soy markets eased overnight, with notable rebounds from session lows early this morning. Crude oil also continues to face pressure, though selling from yesterday has eased.Markets await Iran’s response to the latest peace proposal. The two sides are reportedly leaning toward a limited, temporary agreement, according to Reuters. The proposed framework would unfold in three stages: formally ending the war, resolving the crisis in the Strait of Hormuz and launching a 30-day window for negotiations on a broader agreement, sources told Reuters. A Pakistani source and another source briefed on the mediation said a one-page memorandum to formally end the conflict was close, though gaps remain between the sides. The proposal would formally end the conflict while leaving unresolved key U.S. demands such as the restrictions on Iran’s missile program and an end to its support for proxy militias in the Middle East.Meanwhile, the Israeli army says it killed the commander of an elite Hezbollah unit in an attack in the southern suburbs of Beirut on Wednesday. Other Israeli attacks took place in…
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