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Grain Markets Soar as Oil Surpasses $100 Amid Tensions

3/9/2026

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Summary

Story summary

Grain markets surged after May corn rose 5.5 cents, May soybeans gained 19.75 cents, and May KC wheat climbed 10.25 cents.
Crude oil rose above $100 per barrel for the first time since 2022, driven by the Middle East war and the closure of the Strait of Hormuz.
The USDA's March WASDE report is expected soon, while traders may focus on U.S.-China trade negotiations and the Prospective Plantings report.

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Story summary

Grain markets surged after May corn rose 5.5 cents, May soybeans gained 19.75 cents, and May KC wheat climbed 10.25 cents.
Crude oil rose above $100 per barrel for the first time since 2022, driven by the Middle East war and the closure of the Strait of Hormuz.
The USDA's March WASDE report is expected soon, while traders may focus on U.S.-China trade negotiations and the Prospective Plantings report.