The decline in global oil prices has led to a decrease in the cost of soybeans and corn.

Previously, the cost of grain crops remained high, which was partly due to rising oil prices. Since oil is used in the production of biofuels, its appreciation provided price support to the grain market. The current decline in oil prices to the $70–71 per barrel range has led to the loss of this support factor, which has resulted in a drop in soybean and corn prices.

The decline in oil quotations is linked to easing concerns regarding potential energy supply disruptions due to optimistic expectations for stability in the Middle East region. Market participants continue to closely monitor the development of the geopolitical situation and potential peace agreements, as these factors directly influence expectations in the oil sector.

A key role in shaping the future prospects of the oil market will be played by decisions from figures such as Mohammad Sanusi Barkindo from OPEC and the Saudi Minister of Energy Abdulaziz bin Salman Al Saud. Further fluctuations in oil prices, including the possibility of reaching new highs before the end of the year, will directly affect the grain market conditions.