Russia’s Diesel Export Ban Tightens Global Fuel Markets and Raises Agricultural Costs
Key Takeaways: Russia’s diesel export ban is tightening global fuel supplies and increasing dependence on alternative exporters. Limited refining capacity and logistical constraints make diesel markets especially sensitive to supply disruptions. Diesel supply disruptions are more difficu...
FOB Prices and Freight Rates App (Updated 15 July)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Syria's new Russian logistics hub at Tartous port is expected to be operational by the end of July. It is expected to handle 250,000 MT of cargo per month, including wheat and other grains. Initial shipments are expected to be Rus...
WASDE Soybeans - July 2026
USDA’s July WASDE outlook for 2026/27 left ending stocks of U.S. soybeans unchanged at 310 million bushels for 2026/27. Prices also are unchanged for 2026/27 - the average U.S. soybean price is forecast at $11.40 per bushel; soybean meal and oil prices are projected at $310 per short ton...
WASDE Wheat - July 2026
USDA’s July WASDE outlook for 2026/27 reduced total U.S. wheat production by 7 million bushels from last month to 1,536 million – which is the lowest U.S. wheat production since 1970/71. The result is that projected 2026/27 ending stocks are 722 million bushels, which is down 22 per...
Why Middle Eastern and North African Wheat Demand Remains a Key Driver of Global Trade
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Bangladesh is reported to have finalized the purchase of 270,000 MT of wheat, including 220,000 MT of U.S. wheat. The U.S. wheat is priced at $322/MT, with an additional 50,000 MT of wheat at $297.90/MT through an international te...
Transportation Perspectives - 2 July
Key Takeaways Traffic through the Strait of Hormuz is increasing steadily, despite a precarious political situation. The increased flow of vessels through the SOH is pressuring tanker rates, though total volumes remain well below pre-war levels. The big issue in the Strait of Hormu...
Ethanol and Biodiesel Margins
What You Need To Know Today: Ethanol margins continue to run well above year-ago and normal seasonal values, but have slipped in recent weeks on weaker DDGS and ethanol pricing. WPI’s models project a steady decrease in returns to ethanol production following the end of the summer...
Trump Suspends Phosphate CVDs
On Monday, the Trump Administration suspended the countervailing duties (CVDs) on phosphate fertilizer imports from Morocco via Executive Order. The CVDs were imposed in 2021 by the Biden Administration and were subject to a routine five-year sunset review. According to the Agricultural and Foo...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Oman Flour Mills has begun its 2026 purchases of locally produced wheat. The mill runs a government-supported program that it says strengthens the country’s food supply. The program is said to “improve farming practice...
Senate Farm Bill and $11 Billion Supplemental Appropriation Request
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
Transportation Perspectives - 25 June
Key Takeaways: Despite little progress in a U.S.-Iran framework for a peace deal or an agreement itself, vessel transits are picking up in the Strait of Hormuz (SOH). On Wednesday morning, Kpler reported 31 verified vessel transits of the SOH in a positive sign of increased activity in t...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt Grain Situation Recap: Egypt’s wheat market is very quiet due to good stocks and low demand. Private sector millers are using local wheat production. Egypt’s maize imports have picked up this week, with shipment...
Naturally Resilient Crops Are Key to Drought Mitigation
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
Transportation Perspectives - 16 June
Key Takeaways: Peace at last in the Persian Gulf? Over the weekend, the U.S. announced and Iranian officials confirmed a peace agreement, with formal ratification set for Geneva on 19 June. The announcement means the Strait of Hormuz is set to reopen fully and toll-free within 30 days.&n...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt Grain Situation Recap: Wheat stocks in Egypt are at good levels, with only limited import interest. However, there is some concern over the supply of wheat from the Black Sea later in the year due to current weather problem...
New Agreements on Iran War and EU Tariffs, Questions Remain
The U.S. and Iran announced a framework peace deal. Crude oil futures dropped to $83.08, the lowest since early March. The breakthrough comes as President Trump said that if Iran failed to reach a deal, he would order renewed military attacks. An LNG tanker chartered by India’s Petronet c...
Peace Deal in Iran: What Does It Mean for Ags?
Early Sunday evening, President Trump and Iranian officials confirmed the two countries have agreed to a peace deal. The agreement notes the Strait of Hormuz will be reopened (though President Trump cautioned time would be needed “for purposes of mine removal”) and the U.S. bl...
WASDE Wheat - June 2026
USDA’s June outlook for 2026/27 reduced the U.S. average wheat yield by 0.5 bushels per acre to 47.0 bushels and ending stocks are reduced 18 million bushels to 744 million. However, U.S. wheat exports are unchanged at 775 million bushels The result is 2026/27 season-average farm price is...
Transportation Perspectives - 11 June
Vessel supplies in the tanker sector are tightening as vessels are “disappearing” from the position list. There is some indication that the position list on both sides of the Suez is “wanting” right now and many are expecting an uptick in rates. There is an odd lack of t...
U.S. Soybean Exports Become More Diversified as Reliance on China Declines
Key Takeaways: China's rise to become the world's largest soybean importer reshaped global trade flows, but recent trade tensions have reduced its share of U.S. soybean exports. U.S. soybean exports have become increasingly diversified as exporters expanded sales to multiple emerging markets t...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt’s currency has weakened in the past few weeks as higher energy costs related to the US/Iran conflict have pushed import prices up. Imports are paid mainly in US dollars and demand for the dollar has caused the Egyptian...
EU Sovereignty Ruse; Imbalanced Views; USMCA Voices
EU Sovereignty Ruse For years politicians talked like banty roosters about Europe’s soft power leadership, with American leaders hoping that a strong EU would multiply the U.S. power equation. Then Donald Trump ascended to power and called Europe a Potemkin village, infuriating Brussels t...
Russia’s Diesel Export Ban Tightens Global Fuel Markets and Raises Agricultural Costs
Key Takeaways: Russia’s diesel export ban is tightening global fuel supplies and increasing dependence on alternative exporters. Limited refining capacity and logistical constraints make diesel markets especially sensitive to supply disruptions. Diesel supply disruptions are more difficu...
FOB Prices and Freight Rates App (Updated 15 July)
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Syria's new Russian logistics hub at Tartous port is expected to be operational by the end of July. It is expected to handle 250,000 MT of cargo per month, including wheat and other grains. Initial shipments are expected to be Rus...
WASDE Soybeans - July 2026
USDA’s July WASDE outlook for 2026/27 left ending stocks of U.S. soybeans unchanged at 310 million bushels for 2026/27. Prices also are unchanged for 2026/27 - the average U.S. soybean price is forecast at $11.40 per bushel; soybean meal and oil prices are projected at $310 per short ton...
WASDE Wheat - July 2026
USDA’s July WASDE outlook for 2026/27 reduced total U.S. wheat production by 7 million bushels from last month to 1,536 million – which is the lowest U.S. wheat production since 1970/71. The result is that projected 2026/27 ending stocks are 722 million bushels, which is down 22 per...
Why Middle Eastern and North African Wheat Demand Remains a Key Driver of Global Trade
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Bangladesh is reported to have finalized the purchase of 270,000 MT of wheat, including 220,000 MT of U.S. wheat. The U.S. wheat is priced at $322/MT, with an additional 50,000 MT of wheat at $297.90/MT through an international te...
Transportation Perspectives - 2 July
Key Takeaways Traffic through the Strait of Hormuz is increasing steadily, despite a precarious political situation. The increased flow of vessels through the SOH is pressuring tanker rates, though total volumes remain well below pre-war levels. The big issue in the Strait of Hormu...
Ethanol and Biodiesel Margins
What You Need To Know Today: Ethanol margins continue to run well above year-ago and normal seasonal values, but have slipped in recent weeks on weaker DDGS and ethanol pricing. WPI’s models project a steady decrease in returns to ethanol production following the end of the summer...
Trump Suspends Phosphate CVDs
On Monday, the Trump Administration suspended the countervailing duties (CVDs) on phosphate fertilizer imports from Morocco via Executive Order. The CVDs were imposed in 2021 by the Biden Administration and were subject to a routine five-year sunset review. According to the Agricultural and Foo...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Oman Flour Mills has begun its 2026 purchases of locally produced wheat. The mill runs a government-supported program that it says strengthens the country’s food supply. The program is said to “improve farming practice...
Senate Farm Bill and $11 Billion Supplemental Appropriation Request
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
Transportation Perspectives - 25 June
Key Takeaways: Despite little progress in a U.S.-Iran framework for a peace deal or an agreement itself, vessel transits are picking up in the Strait of Hormuz (SOH). On Wednesday morning, Kpler reported 31 verified vessel transits of the SOH in a positive sign of increased activity in t...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt Grain Situation Recap: Egypt’s wheat market is very quiet due to good stocks and low demand. Private sector millers are using local wheat production. Egypt’s maize imports have picked up this week, with shipment...
Naturally Resilient Crops Are Key to Drought Mitigation
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
Transportation Perspectives - 16 June
Key Takeaways: Peace at last in the Persian Gulf? Over the weekend, the U.S. announced and Iranian officials confirmed a peace agreement, with formal ratification set for Geneva on 19 June. The announcement means the Strait of Hormuz is set to reopen fully and toll-free within 30 days.&n...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt Grain Situation Recap: Wheat stocks in Egypt are at good levels, with only limited import interest. However, there is some concern over the supply of wheat from the Black Sea later in the year due to current weather problem...
New Agreements on Iran War and EU Tariffs, Questions Remain
The U.S. and Iran announced a framework peace deal. Crude oil futures dropped to $83.08, the lowest since early March. The breakthrough comes as President Trump said that if Iran failed to reach a deal, he would order renewed military attacks. An LNG tanker chartered by India’s Petronet c...
Peace Deal in Iran: What Does It Mean for Ags?
Early Sunday evening, President Trump and Iranian officials confirmed the two countries have agreed to a peace deal. The agreement notes the Strait of Hormuz will be reopened (though President Trump cautioned time would be needed “for purposes of mine removal”) and the U.S. bl...
WASDE Wheat - June 2026
USDA’s June outlook for 2026/27 reduced the U.S. average wheat yield by 0.5 bushels per acre to 47.0 bushels and ending stocks are reduced 18 million bushels to 744 million. However, U.S. wheat exports are unchanged at 775 million bushels The result is 2026/27 season-average farm price is...
Transportation Perspectives - 11 June
Vessel supplies in the tanker sector are tightening as vessels are “disappearing” from the position list. There is some indication that the position list on both sides of the Suez is “wanting” right now and many are expecting an uptick in rates. There is an odd lack of t...
U.S. Soybean Exports Become More Diversified as Reliance on China Declines
Key Takeaways: China's rise to become the world's largest soybean importer reshaped global trade flows, but recent trade tensions have reduced its share of U.S. soybean exports. U.S. soybean exports have become increasingly diversified as exporters expanded sales to multiple emerging markets t...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt’s currency has weakened in the past few weeks as higher energy costs related to the US/Iran conflict have pushed import prices up. Imports are paid mainly in US dollars and demand for the dollar has caused the Egyptian...
EU Sovereignty Ruse; Imbalanced Views; USMCA Voices
EU Sovereignty Ruse For years politicians talked like banty roosters about Europe’s soft power leadership, with American leaders hoping that a strong EU would multiply the U.S. power equation. Then Donald Trump ascended to power and called Europe a Potemkin village, infuriating Brussels t...