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2026-05-28 21:18:31
[US-Iran Conflict Pushes Up Grain Futures, Crude Oil Returns to $90] (1) Grain futures on the Chicago Board of Trade rose in pre-market trading as renewed clashes between the US and Iran raised concerns about the peace process, and risk premiums were re-included in prices. (2) The Hightower Report stated that a 2% rise in crude oil prices, returning to above $90 per barrel, was the driving force behind the increase in grain prices; crude oil is correlated with grain prices because crops are used as feedstock for renewable fuels and are blended with gasoline. (3) In pre-market trading, the most actively traded corn futures rose 0.7%, soybean futures rose 0.6%, and wheat futures climbed 0.4%.
