What You Need to Know Today:
President Trump suspended the planned attacks on Iran and announced that the pieces for a framework for peace were in place in a weekend social media post. Iran, however, later said no efforts were underway to conduct negotiations with the U.S., though Oman indicated there was progress being made on a plan to jointly operate the Strait of Hormuz. President Trump said late Monday afternoon that he will not allow Iran to charge vessels to pass through the Strait of Hormuz. China secured 14-16 cargoes of U.S. soybeans on Friday (about 1 MMT) for October delivery. China’s purchases continued Monday morning with USDA reporting another 624 KMT sold, in total, to China and unknown destinations. Wheat crops in th...
What You Need to Know Today: CBOT markets pared Monday’s sharp losses as traders booked short profits and adjusted positions ahead of the Grain Stocks report that USDA will release Wednesday afternoon. The 7-day QPF forecast from NOAA now shows heavy rain across the central and western C...
There was encouraging news over the weekend: the White House may reject the misguided idea on Capitol Hill to ban U.S. diesel exports. What WPI has noted previously was perhaps best put by a Department of Energy report of 2022, under the Biden administration: Petroleum liquids markets are globa...
Key Takeaways: Comparative advantage encourages countries to specialize in goods they can produce at a lower opportunity cost and rely on trade for others. Differences in climate, land, infrastructure, and technology help determine where agricultural commodities can be produced most efficientl...
