Tidbits, Brazilian Soybeans, Iran Oil, Put Options Basics & Protection, FOB 3/15/26
- Wright team
- 2 days ago
- 5 min read
Tidbits
Brazilian soybeans: The Ministry of Agriculture and Livestock (MAPA) of Brazil has relaxed the issuance of Phytosanitary Certificates and resumed accepting surveyor samples. However, MAPA added a series of procedures and conditions:
A Vigiagro (Brazilian federal health) inspector will personally accompany 1 out of every 10 vessels delivering soybeans to China. The inspector will personally collect the sample. The MAPA memo does not specify how or where the inspector will collect the sample. Will it apply to the entire lineup or be port-specific?
Soybean trader Eduardo Vanin does not think this procedural change will convince the Chinese to allow Brazil’s soybeans to smoothly flow into China, but, given the way the soybean market reacted, there are many people who think it will.
Crude oil: Kharg Island is in the northern Persian Gulf just off the coast of Iran. In 2025, 96% of Iran’s crude oil exports were loaded on ships berthed at Kharg Island. Over the weekend, the U.S. destroyed military defensive positions on Kharg Island without any damage to the 55 crude oil storage tanks that can hold more than 34 million barrels.
The island has some offshore oil production, the bulk of the oil arrives via pipelines from the mainland. The island first began exporting oil during the summer of 1960 and was built to capacitate 7 million barrels per day in exports, to reflect the potential in oil production. Iran hit 6.6 million bpd in production in 1976.
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