Tidbits, Wheat Market Situation, Ceasefire with Iran, Brazilian Crops, China’s Urea, Soy to Vietnam 4/8/26
- Wright team
- Apr 8
- 4 min read
Tidbits
Crude oil prices drop and stocks rally after Trump’s ceasefire announcement. China intervened at the last minute and persuaded Iran to agree to a two-week ceasefire, The New York Times reported, citing Iranian officials. Still, the ceasefire hasn't really clarified anything when it comes to the Strait of Hormuz.
Some, maybe most of the reason for the weakness of corn and soybean markets is the fear of Thursday’s monthly S&D, which is typical every month.
Brazil soy harvest is 82% done as of April 2, compared with 87% a year before, consultancy firm AgRural says. Work is concentrated in Matopiba and Rio Grande do Sul, which have a later schedule.
Dr. Michael Cordonnier raised the Brazilian soybean production estimate by 1 million to 179 million mts and left corn estimate unchanged at 132 million mts.
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