What You Need to Know Today:
The U.S. and Iran resumed missile strikes after a brief pause in fighting, raising concerns that the five-month conflict could expand across the Middle East. Jordan intercepted Iranian missiles, Kuwait reported a fatal strike, and drone attacks damaged two natural gas vessels at Egypt’s Damietta port, signaling a broader regional risk. Egypt reported that two ships at the port of Damietta were damaged in a drone attack. The port hosts a major LNG export facility and is a key trade hub. No one has claimed responsibility for the attack, but it is believed to have been carried out by Iran or an ally like the Houthis. As a major buyer of U.S. soybeans and wheat, any prolonged disruption to Egyptian logistics...
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...
