What You Need to Know Today Agricultural futures spent a third straight session mostly lower after partially recovering from morning lows.  The war in Iran continues to drive energy markets with spillover into ags. After two days lower, crude oil turned higher after Iran demanded unlikely concessions. Crude oil inventories are tightening due to the war, though the EIA’s estimated stocks drawdown is slightly less than private estimates. 

JBS leadership facilitated a meeting at the White House for Brazilian President Luiz Inacio Lula da Silva where he sought reduced tariffs and discussed organized crime. President Trump said the meeting went well and praised Lula as “dynamic.” Planting and emergence of crops in th...