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Trump Directs Iranian Funds to US Crops, Farmers Caution

6/26/2026

32 2 Full Breakdown

Summary

Story summary

President Donald Trump announced unfrozen Iranian assets will be used to buy U.S. corn, wheat and soybeans.
Iranian Foreign Ministry spokesperson Esmail Baghaei said Iran will use the funds as it sees fit, not limited to U.S. crops.
Iowa Farmers Union president Aaron Lehman warned the market may come after planting decisions are set, as corn and wheat futures fell for a third session and soybean prices stayed flat.

History

Historical Context

In May 2018 President Donald Trump pulled the United States out of the JCPOA and re-imposed sanctions that froze about $6 billion of Iranian assets, including the Central Bank, the Islamic Revolutionary Guard Corps and the National Iranian Oil Company. The move continued a sanctions chain begun after the 1979 Iranian Revolution, when the U.S. first cut ties and froze roughly $11 billion in Iranian holdings.

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Story summary

President Donald Trump announced unfrozen Iranian assets will be used to buy U.S. corn, wheat and soybeans.
Iranian Foreign Ministry spokesperson Esmail Baghaei said Iran will use the funds as it sees fit, not limited to U.S. crops.
Iowa Farmers Union president Aaron Lehman warned the market may come after planting decisions are set, as corn and wheat futures fell for a third session and soybean prices stayed flat.

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