19 Hrs
Source:
المشهد العربي
Global grain and oil prices fall ahead of peace agreement
Global markets have seen a decline in the prices of grains and vegetable oils, due to expectations of reopening the Strait of Hormuz following the announcement of a preliminary agreement between Iran and the United States, with the signing scheduled for June 19. The price of December corn contracts fell by 0.7% to $4.37 per bushel, while wheat futures for September decreased by 1.15%, and soybean oil by 1.35%. This decline in food prices is attributed to improved availability of agricultural inputs and the easing of inflationary pressures resulting from the agreement.
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