From Investing.com: 2025-03-10 02:02:00

Energy – Saudis Cut Crude Prices
Oil prices faced downward pressure after Saudi Arabia slashed prices and deflationary signals from China impacted sentiment. ICE Brent settled almost 3.9% lower, hovering above $70/bbl. Speculators are bearish, reducing net long positions. Saudis cut April OSPs, with concerns over OPEC+ supply increase and demand uncertainty. Chinese crude oil imports dropped 3.4% YoY.
USDA’s WASDE report on Tuesday may cut ending stocks estimates, leaving corn stocks unchanged and slightly increasing soybean ending stocks. Potential revisions in Argentine and Brazilian crop estimates expected. France reports 74% of wheat crop in good condition. Negative sentiment persists, with money managers shifting to net short positions in CBOT wheat and soybeans.



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