Tidbits, Iran, Brazil, Fertilizer Sales, Weather & Drought, Export Sales 5/8/26
- Wright team
- May 8
- 4 min read
Tidbits
Iran’s military said United States forces targeted an Iranian oil tanker in coastal waters and a second vessel near the United Arab Emirates’ Fujairah port, while U.S. air strikes hit civilian areas in southern Iran. The U.S. military’s Central Command said its naval forces came under Iranian missile, drone and fast-boat attacks in the Strait of Hormuz.
President Donald Trump described the attacks on Iranian targets as a “love tap”, telling U.S. broadcast media that “the ceasefire is going. It’s in effect”. Has the war ended as Trump said to Congress?
Crude oil prices did not react to these events and grain markets continue to slip lower.
Brazilian President Luiz Inacio Lula da Silva arrived at the White House yesterday for talks with President Trump. The takes were expected to focus on trade, security, and critical minerals as Lula seeks to reset their rocky relationship. Both leaders have built loyal political followings by positioning themselves against established elites, although they differ markedly on issues ranging from economic policy to international alliances.
Brazil exported 16.7 million metric tons (615 million bushel) of soybeans in April, a new all-time record.
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