Tidbits, Hostilities in Iran, Shippings, Crop Progress, ENSO, Export Inspections 7/14/26
- Wright team
- 2 minutes ago
- 4 min read
Tidbits
Iran: U.S. President Donald Trump officially notified Congress of the resumption of hostilities in Iran. Crude oil prices rose significantly again, to about $80. Trump also announced that the U.S. would impose a 20% tax on all cargo transported through the Strait of Hormuz. Iran, for its part, declared that it would not allow the U.S. to interfere with the management of the Strait of Hormuz and would treat it as closed.
Flash sales: Yesterday, the USDA announced the sale of 136,000 mts of new crop soybeans to China.
Exports: People “in the know” say insiders in China’s soybean business expect China to buy 15 million mts of U.S. soybeans by December 31. If China is going to import 25 million mts of U.S. soybeans between 1 September 2026 and 31 August 2027, there needs to be a lot more than 15 million mts booked to China by 31 December, because Brazil’s soybeans will be $25 to $50 per ton cheaper than U.S. beans from January through July of 2027.
The U.S. soybean marketing year begins 1 September. Brazil’s soybean exports pretty much end in July or early August as their export channels are handling corn until the end of December when some new crop soybeans begin to trickle into the supply pipeline. September through December is when U.S. beans are readily available and South American beans are scarce and U.S. soybeans are usually cheaper than South American beans.
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