What You Need to Know Today:
Shipping in the Black Sea is at a standstill, with neither Ukraine nor Russia yet ready to swerve in this game of maritime and export brinkmanship. Israeli media suggests the U.S. and Iran may be close to making a deal or at least restoring the memorandum of understanding. This comes after President Trump held off on strikes against Iran over the weekend, after 13 consecutive nights of attacks. Oman has reportedly collected approval from some other Gulf states to allow Iran to charge “voluntary” fees for vessels transiting the Strait of Hormuz (SOH). The fees would reportedly not be managed solely by Iran solely and would be modeled after the Strait of Malacca in Asia. Energy prices are declining on...
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...
