Tidbits, October S&D Shock, Russian Diesel, EU Corn, Farm Debt, Rigs 10/10/26
Tidbits
Fuel: Trump announced at 3:04 PM Eastern Time yesterday that he had agreed on "immediate" deliveries of 300,000 mts (not gallons!) of diesel from Russia to the U.S. and the global market. And another 500,000 mts during November. Followed by more than 4 million mts of diesel over a short period of time depending on the condition of Russian refineries. Previously, such exports were under sanctions and then banned by Russia to help the domestic supply.
The EU corn faced its worst harvest in two decades. According to Eurostat, the total EU grain maize harvest amounted to 50.2 million mts, a 12% decrease compared to 2025 and 18% below the 10-year average. Yields fell from 9.8 mts per hectare in 2025 to 8.6 mts per hectare in 2026 — a 12% drop.
Meanwhile Lithuania, Latvia and Estonia proposed a European Union ban on Russian grain exports through the bloc.
American farmers are borrowing more money than ever before to operate — but the rise in non-traditional and vendor credit has created some gaps in the federal government's current ability to measure and track farm debt, USDA officials told Reuters.
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