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Commodities

Grains Bounce Back Amid Crude Oil Surge

Guavy AI Editorial Team
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Grains are expected to trend higher today as corn and wheat rebound from recent losses. December corn has broken above its 10-day moving average, a key pivot point at $5.31 1/4. Support for corn comes in at yesterday's low of $5.26 1/2.

The USDA reported daily sales of 272,000 MT of soybeans for delivery to China and 206,500 MT of soybeans for delivery to unknown destinations during the 2026-27 marketing year. Rumors suggest an additional 1 MMT of Chinese purchases may be announced tomorrow.

Crude oil prices are surging again, reaching three-month highs amid renewed tensions between the US and Iran. Brent futures have jumped to triple figures for the first time since July in the previous session.

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