What You Need to Know Today:
The latest EIA Short-Term Energy Outlook forecast 2027 U.S. WTI crude oil at $65.39/brl, up about $5 from the prior forecast. President Trump late Monday claimed the U.S. has swept the entire Strait of Hormuz (SOH) for sea mines. Iran’s security council said the SOH will remain closed until the U.S. accepts Iran’s conditions for ending the war. The U.S. military fired on a Panama-flagged vessel that tried to run the U.S. naval blockade around Iran early Tuesday. Heavy rains are forecast for much of the Corn Belt with Iowa, Illinois, Indiana, and Ohio all set to receive beneficial moisture. U.S. corn and soybean crop conditions and progress ratings were overall neutral in Monday’s USDA report,...
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...
