# Futures File: Oil market on fire; grain prices rally – Greeley Tribune

> Oil prices hit a three-year high above $74 a barrel on Libyan and Venezuelan supply disruptions, a Canadian facility outage, and planned U.S. sanctions forcing buyers to drop Iranian crude by November. USDA's June acreage report showed corn plantings up over a million acres to 89.12 million.

- Date: 2018-06-29 · published 2018-06-29T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/11640-futures-file-oil-market-on-fire-grain-prices-rally-greeley-tribune
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Corn](https://feedsoft.ai/c/CORN.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Higher crude raises biofuel and transport costs, while the larger corn acreage is bearish for corn balance sheets, pressuring feed grain prices despite the energy rally.

## Read by commodity

- WTI: bullish ▲
- CORN: bearish ▼
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-10-23 | [Oil Prices Surge 5% as Russia Sanctions Meet A Tight Futures Market](https://feedsoft.ai/events/8130-oil-prices-surge-5-as-russia-sanctions-meet-a-tight-futures-market.md) | +3.3% | +1.6% |
| WTI | 2019-01-31 | [Futures Movers: Oil Gains, With U.S. Prices Up More Than 20% For The Month - Global Financial Market Review](https://feedsoft.ai/events/61009-futures-movers-oil-gains-with-u-s-prices-up-more-than-20-for-the-month-global.md) | -0.4% | +5.0% |
| WTI | 2026-07-24 | [Grains Markets Hit New Highs on Black Sea Attacks, Crude Oil Rally](https://feedsoft.ai/events/18388-grains-markets-hit-new-highs-on-black-sea-attacks-crude-oil-rally.md) | -8.8% | -4.0% |
| WTI | 2022-02-23 | [Palm oil futures hit all-time high on bullish global energy, vegetable oil markets](https://feedsoft.ai/events/8760-palm-oil-futures-hit-all-time-high-on-bullish-global-energy-vegetable-oil.md) | +12.4% | +20.7% |
| WTI | 2022-07-29 | [OPEC+ meeting on Aug. 3: Oil prices rise on tight supply \| Stock Market News](https://feedsoft.ai/events/40663-opec-meeting-on-aug-3-oil-prices-rise-on-tight-supply-stock-market-news.md) | -8.0% | -5.2% |
| BRENT | 2025-10-23 | [Oil Prices Surge 5% as Russia Sanctions Meet A Tight Futures Market](https://feedsoft.ai/events/8130-oil-prices-surge-5-as-russia-sanctions-meet-a-tight-futures-market.md) | +4.1% | +1.9% |
| BRENT | 2019-01-31 | [Futures Movers: Oil Gains, With U.S. Prices Up More Than 20% For The Month - Global Financial Market Review](https://feedsoft.ai/events/61009-futures-movers-oil-gains-with-u-s-prices-up-more-than-20-for-the-month-global.md) | +1.1% | +6.8% |
| BRENT | 2022-07-29 | [OPEC+ meeting on Aug. 3: Oil prices rise on tight supply \| Stock Market News](https://feedsoft.ai/events/40663-opec-meeting-on-aug-3-oil-prices-rise-on-tight-supply-stock-market-news.md) | -11.4% | -8.6% |

## Sources

- greeleytribune.com: https://www.greeleytribune.com/2018/06/29/futures-file-oil-market-on-fire-grain-prices-rally/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.