Tidbits, Markets & China, Crude Oil, Interest Rate, Fertilizer, Broilers & Ethanol 7/30/26
- Wright team
- 1 hour ago
- 4 min read
Tidbits
Markets:
November soybean futures lost nearly 30¢ and corn lost 9¢ Wednesday as some weather forecasts indicated rain relief for the Western Corn Belt with widespread rains into the early part of next week, with heaviest amounts seen for Iowa, Southern Minnesota and Northern Illinois. Those areas could see 1.25 inches to over 2 inches by Tuesday, based on a National Weather Service five-day outlook. Frankly, we cannot find a NWS five-day outlook with that prediction. Today and tomorrow have the best chance of rain in the Western Corn Belt with a chance of light showers in the Dakotas Monday to Wednesday.
We suspect the bigger reason soybeans prices were so weak yesterday was the news that Iran will receive up to 400 QW-12 and FN-16 shoulder-fired surface-to-air missiles from China in a $70 million deal. These are the precise weapons sales Trump claimed President Xi told him China would never make under any circumstances. The first shipments will arrive in Iran within weeks, according to Reuters, citing three sources. The deliveries will be shipped by air from Urumqi in Western China to Pakistan then across the border to Iran.
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