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: The U.S. dollar continued to strengthen Thursday as persistent inflation reinforced expectations for additional Federal Reserve interest rate hikes. Higher Treasury yields have helped support the dollar, potentially reducing the competitiveness of U.S. agricultural...
In yesterday’s WASDE, USDA reduced its overall red meat and poultry production forecast for 2026 as declines in beef and broiler output more than offset increases in pork and turkey production. Fourth-quarter beef production was revised downward because of slower fed cattle marketings and...
Key Takeaways: Dry bulk freight markets were stronger this week, but the rally was uneven and due to divergent dynamics across basins and vessel classes. Panamax markets were broadly higher, but Atlantic grain demand was primarily responsible while Asian activity was subdued. That trend...
