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: USDA cut the 2026 corn yield forecast by 1.6 BPA to 179.6, shaving 141 Mbu off the crop. Corn ending stocks were cut by 91 Mbu to a level that pushed the ending stocks-to-use (ESU) ratio to 10.8 percent. Conversely, USDA raised the soybean yield forecast 0.2 BPA to...
Key Takeaways: Expanding U.S. soybean crushing capacity is strengthening domestic demand, driven largely by growing soyoil consumption from the renewable diesel and biofuels industries. Despite increased domestic processing, substantial quantities of U.S. soybeans are expected to remain availa...
