The primary drivers of Monday’s grain trade were, of course, the U.S. and Israel’s weekend attacks on Iran that killed the latter country’s Supreme Leader Khamenei and the subsequent cascade of impacts on global markets. WPI covers these impacts in more detail in our nearby article, but here we briefly note that energy markets rallied sharply on the threat to global crude oil and LNG supplies, and freight markets are avoiding the Persian Gulf and, more broadly, the Middle East. The weekend events don’t have much impact on global grain trade other than increasing the difficulty of supplying some importers with human and animal feed needs, but routing vessels around the Suez Canal and Red Sea (again) will tighten dry-b...