Oil Prices Hit Farmers Long Before They Hit Shoppers

Oil prices are reaching grain markets slowly, with weather still the immediate driver and sustained crude needed to shift production. Ben Klieve, Benchmark Senior Research Analyst, explains how energy costs travel through row crops, the soy oil complex and the food supply chain. Row crop growers feel it on the bottom line through diesel costs, while the fruit and vegetable sector carries elevated transportation costs that have already lifted food inflation for those crops. In the soy oil complex the correlation to crude oil prices holds through its role as a biofuel feedstock. The biofuel complex would need higher prices over a longer period before increasing production. Discover Actionable Markets Insights with StoneX Market Intelligence: https://shop.stonex.com/collections/all?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_ben_klieve&utm_content=share Watch the full conversation: https://youtu.be/k1wTkXFoeiU 0:00 Oil Prices Meet the Weather 0:53 Diesel Bites Row Crop Margins 1:28 Biofuel Ties Soy Oil to Crude 1:48 Grain Has Not Reached Shelves 2:15 Blueberries Ride Costly Trucks Like and subscribe for more financial market insights. #StoneX #BenKlieve #CrudeOil #Soybeans