Tidbits, Iran & Black Sea, Soybean Price, Mexican Imports, Crop Progress, ENSO, Export Inspections 7/28/26
- Wright team
- 1 day ago
- 4 min read
Tidbits
The Strait of Hormuz status is disputed: Iran claims it is closed, while the United States insists it remains open. Actual traffic through the strait is severely reduced to a fraction of normal capacity as hundreds of vessels wait or are bypassing standard tracking amid expensive war-risk insurance premiums.
Crude Oil was sharply lower early Monday after the U.S. paused its bombing campaign against Iran over the weekend. On Sunday, Iran said it will halt its own attacks as long as the U.S. does the same.
The Black Sea: CBOT prices were pressured yesterday by the possibility of a “safe transport corridor” to get grain out of Ukraine and Russia and into the world marketplace.
The UN Security Council was scheduled to discuss a resolution to get Black Sea grain into the world marketplace yesterday. Instead, the USA personnel walked out of the assembly as France addressed the United Nations Security Council on Ukraine, accusing the USA of "disingenuous grandstanding" over French comments comparing the USA to North Korea, Russia and other authoritarian states regarding votes on human rights issues.
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