Low oil prices drag down crop markets

Low oil prices drag down crop markets

Crude oil prices slipped last week and added extra pressure on the grain market. The latest events in the global oil market are shining a spotlight on some additional reasons behind recent losses for grain futures.  

At the end of May, the Organization of Petroleum Exporting Countries (OPEC) extended oil production cuts for another nine months in an effort to reduce world supply amid the oil glut. Production cuts ...

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