Tidbits, Iran, Weather, Old Crop Highs, Beef & JBS 5/25/26
- Wright team
- 12 minutes ago
- 4 min read
Tidbits
Crude oil gapped lower on the opening last evening and traded more than $5 lower in the first half hour of trading on the expectation that the Strait of Hormuz will be opened in a matter of days.
Iran: President Trump said on Sunday he had told his representatives not to rush into any deal with Iran. He played down hopes of an imminent breakthrough that had been raised on Saturday. Trump said the U.S. blockade of Iranian ships in the Strait of Hormuz will remain in full force until an agreement is reached, certified, and signed. There were reports on Saturday that Iran was ready to agree to give-up its enriched uranium, but yesterday’s comments from Iran showed that at least some of the leaders were dead set against that.
This appears to be another stall tactic by Iran. They have an official say something that Trump wants to hear to indicate Iran is seriously considering conceding on the major points. Trump postpones the promised military action. When it comes time to sign the deal, Iran says again they will not give-up their nuclear ambitions or insist on something new that they know is totally unacceptable to Trump and the two week process begins again.
Weather: A client in southeast Hardin County of West Central Ohio received 3½ inches of rain in the seven days ending Friday and then 4¼ inches of rain on Saturday. West Central Ohio received another two to four tenths on yesterday. The weather forecast does predict the Central and Eastern Corn Belt will dry out this weekend while Nebraska has a chance of rain 3 to 5 days out of the next 10 days, and those folks need rain.
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