# Wheat turns to the Black Sea, soybeans to the oil market - Grain and commodity analysis | Boerenbusiness.nl

> Wheat and corn posted slight gains while soybeans fell sharply, with the drop tied to a steep fall in oil prices. December Matif wheat closed up 0.25 euro at 228.75 euro per tonne, CBOT wheat rose 3 cents to $6.06½ per bushel, and CBOT soybeans fell 17½ cents to $12.04¾ per bushel. Trump said on Truth Social that a deal with Iran could be reached, while a new attack in the Middle East was reported.

- Date: 2026-11-03 · published 2026-11-03T13:54:31.997Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/77819-wheat-turns-to-the-black-sea-soybeans-to-the-oil-market-grain-and-commodity
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower crude prices reduce biofuel economics and pull soybean oil and meal lower, while Black Sea disruption keeps wheat supported. Feed buyers face a mixed picture, with protein prices tracking energy headlines and wheat tied to Black Sea logistics.

## Read by commodity

- SOY: bearish ▼
- WTI: bearish ▼
- CORN: bullish ▲
- BRENT: bearish ▼
- WHEAT: bullish ▲

## Sources

- fr.boerenbusiness.nl: https://fr.boerenbusiness.nl/granen-grondstof/artikel/10917357/tarwe-kijkt-naar-zwarte-zee-soja-naar-oliemarkt
- pl.boerenbusiness.nl: https://pl.boerenbusiness.nl/granen-grondstof/artikel/10917357/tarwe-kijkt-naar-zwarte-zee-soja-naar-oliemarkt

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