Tidbits, Fuel & Fertilizer, Wheat, Brazil Sowing, Crop Progress, ENSO, Export Inspections 9/15/26
Tidbits
Friday's key reversal on the soybeans (new contract high followed by a close lower than the previous day's low) was negated by yesterday's higher close. As a general rule, a lack of follow through on the next trading day is needed to confirm a technical trend change.
Fuel & Fertilizer:
Diesel prices are climbing fast, and farmers are feeling it in real time. U.S. diesel prices have surged 60% since the start of the war in Iran. With another 30¢ jump in just a week, the national average for diesel stands at $6.18 per gallon. It’s adding fuel to inflation, and for farmers, it’s hitting at the worst possible time, right in the middle of harvest.
But diesel may not be the only input keeping farmers up at night this fall. Fertilizer prices are climbing too, and there are warning signs that a much bigger crisis could be forming beneath the surface, as a sulfur shortage could be next. Sulfur prices have surged more than fivefold, threatening phosphate fertilizer production. With global supply tightening, farmers could face higher prices, or even fertilizer shortages, heading into the months ahead.
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