Tidbits, Iran, European Crop, Q&A: Cattle on Feed 6/21/26
- Wright team
- Jun 21
- 5 min read
Tidbits
The Heart of the Midwest is having some rough weather this morning. Be careful and be safe!
Weekly Basis: Because Friday was a Federal holiday, the Commodity Futures Trading Commission (CFTC) did not issue its weekly Commitment of Traders (COT) report. The COT will be issued on Monday afternoon. Therefore, our Weekly Basis report will be issued Tuesday morning.
December corn made its high for the year on this date in 2023 at $6.29¾. The U.S. new crop corn carryout was projected to be a 57 day supply (44 days this year) and the world new crop corn carryover was projected to be a 95 day supply (78 days this year).
Iran: Yesterday afternoon Iranian state-run media outlets reported that Iran had closed the Strait of Hormuz yesterday morning to all traffic.
Iran’s Central Headquarters issued a statement to state-run media the closure was a reaction to the explicit breach of "the first clause of the post-war memorandum of understanding by the United States" and Israel’s "ongoing violations of the ceasefire in southern Lebanon."
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