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Mike McGlone
Mike McGlone|Apr 28, 2026 10:28
All Linked Now -- How Long Can Crude Buoy Grains? If crude oil stays elevated in 2026, grain and agriculture prices may as well, but elasticity is typically a primary constraint. Our bias is that the December WTI crude future, at about $78 a barrel on April 27, is more likely to fall toward $50 before US midterm elections than rise above $100, for two key reasons: ample US supply and policy goals for lower food and energy prices, inflation and bond yields. Full report on the Bloomberg terminal here: https://blinks.bloomberg.com/news/stories/te782gkip3jm {BI COMD} #corn #soybeans #wheat #crudeoil @BBGIntelligence(Mike McGlone)
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Timeline

May 16, 10:18The risk of soybean pullback is increasing, and prices are in a premium state.
May 14, 11:54U.S. Crypto Market Structure Bill to be voted on today
May 12, 16:09EIA lowers this year's price expectations for WTI and Brent crude oil.
May 11, 02:40China's crude oil imports in April plummeted by 20%
May 08, 21:02The U.S. action against Iran impacts market sentiment
May 08, 13:52U.S. stocks rose while BTC fluctuated and fell.
May 06, 18:04$920 million short positions on crude oil before the Iran agreement
May 06, 11:34Brent crude oil plummeted over 11%
May 06, 09:01WTI crude oil falls below $96/barrel
May 02, 09:32Brent crude oil reached $120 for the first time.

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