What You Need to Know Today:
Rising hostilities and an end to any semblance of a ceasefire between the U.S. and Iran created geopolitical risk-off trade in macroeconomic markets, though the CBOT seemed immune. President Trump announced the U.S. military would resume its naval blockade on Iran. President Trump said Monday morning that the U.S. will take control of the Hormuz Strait and will accept a 20 percent reimbursement on all cargo shipped via the waterway. The Russian shipping industry says security concerns are still preventing vessels from using the Kerch Strait, which connects Russia’s Sea of Azov with the Black Sea and accounts for 25 percent of Russia’s grain handling flows. CBOT markets are still warily watching the...
What You Need to Know Today: Wheat futures pulled back sharply after Russian President Putin said there was a “chance” for peace and an agreement to end the war in Ukraine. There is plenty of skepticism about the opportunity for peace in Ukraine, but that didn’t stop wheat fr...
President Trump has opened the door to 100,000 MT of beef lean trimmings (limited to HTS codes 0201.30.5091, 0201.30.5097, 0202.30.5091, and 0202.30.5097) from countries listed under the “Other Countries” TRQ effective 1 September. These imports would not be subject to the over-quot...
Key Takeaways: CHS and OCP plan to invest up to $450 million in a Louisiana phosphate fertilizer facility capable of producing more than 1 MMT annually, marking the first new U.S. plant of its kind in more than 40 years. The facility could reduce U.S. dependence on imported finished phosphate...
