Joe&#x27;s Premium Subscription: www.standardgrain.com Grain Markets and Other Stuff Links — Apple Podcasts Spotify TikTok YouTube Futures and options trading involves risk of loss and is not suitable for everyone. 🌱 SOYBEANS &amp; GRAINS RALLY: Soybean futures surged Thursday, with Nov26 closing at $11.57/bu — the highest since early June 📈. Corn and wheat also gained, lifted by soybean oil strength, firmer crude, a weaker dollar, and heat worries across the Corn Belt 🌡️🌽. 💰 FERTILIZER PRICES EASE: Retail fertilizer prices fell for a second straight week as the Strait of Hormuz reopens, with urea down 12% and UAN32 down 7% 📉. DAP and potash ticked up slightly, but officials warn it could take months for supply chains to fully normalize ⏳. 📊 USDA REPORTS AHEAD: USDA drops its Planted Acreage and Grain Stocks reports Tuesday morning 🗞️. Traders expect lower corn acreage, higher soybean acreage, steady wheat acreage, and higher year-over-year stocks across the board 🌾. 🌧️ DROUGHT MONITOR UPDATE: Rain improved conditions in Kentucky, northern Illinois, and northwest Iowa, dropping Corn Belt drought coverage to just 13% (from 36% earlier this year) ☔. The High Plains saw some relief too, but widespread dryness still grips much of the region 🏜️. 🇮🇷 IRAN-US TENSIONS: Iran is pushing back on Trump&#x27;s claim that unfrozen funds will be used to buy US ag goods, with the White House holding firm on its conditions 🚫. Tensions flared further after Iran allegedly attacked a cargo vessel in the Strait of Hormuz, raising doubts about the fragile US-Iran agreement ⚠️. 🚢 EXPORT SALES MIXED: Corn export sales dropped sharply last week, down 36% from the prior week, with Mexico the top buyer 📦. Soybean sales jumped 50% above the four-week average on strong &quot;unknown destination&quot; demand, while wheat sales also rose nicely to start the new marketing year 🌍. ⚖️ BAYER WINS BIG AT SCOTUS: The Supreme Court ruled 7-2 that Bayer can&#x27;t be sued under state law for not putting a cancer warning on Roundup/glyphosate 🛡️. The decision could wipe out thousands of pending lawsuits and sent Bayer shares soaring as much as 20% 🚀.

Trump Says WHO is Gonna Buy US Grains?? + Corn Upside Reversal 

Grain Markets and Other Stuff

# Full Transcript

**Podcast:** Grain Markets and Other Stuff

## Participants

- **Joe Vaclavik** (Standard Grain)
- **Mackenzie** (Dear Media)
- **Brian Split** (agmarket.net)

## Transcript

Good morning, guys. It's Friday, June 26th, 524 a.m. Central Time. Grain Markets a little bit lower this morning. Welcome back to Grain Markets and Other Stuff. My name is Joe. Mackenzie is my co-host. Mackenzie, say good morning to the people. Good morning, everybody. Brian Split is here. Brian, how are you doing this morning? Doing good, Joe. How are you? I'm great. We're going to start with the video clip and then we're going to discuss this is the president at the Rose Garden talking to farmers yesterday.

The Islamic Republic of Iran, they're having a hard time with food and we're going to be taking some of their money and we'll spend it and we're going to be buying wheat, soybeans and corn, a lot of it. And that process is going to be starting pretty soon. What am I supposed to make of that? We're going to be buying wheat, soybeans and corn. Who is we? Is it we on behalf of Iran? Is that what he's saying?

It sounds like the funds that would be unfrozen would be used at our discretion to buy U.S. grain for Iran. That's apparently what he's saying. I know Iran does purchase about 12 million tons of corn a year, so they are a large buyer. I think that there is potential there that if we have the discretion to spend their money, that that might be an outcome.

But I don't know, just with a lot of the policy and the ongoing of who's going to buy what, it's not very concrete. Okay, Mikado, so Iran then responded. Yeah, and Iran's parliament speaker dismissed Trump's claim that the unfrozen funds would be used to buy U.S. agricultural goods to feed Iran's population. So in response, the White House said no frozen assets would be released unless Iran meets the conditions outlined in last week's memorandum of understanding.

Iran officials have insisted that any agricultural imports will be based on price and quality, not conditions set by the U.S. And then also, a little bit more, Iran attacked a cargo vessel in the Strait of Hormuz yesterday. I think the big thing was the last part, Brian, that there was an attack and crude rallied yesterday, but it's right back down this morning along with the grain markets. So it still seems kind of like a bearish input to me. I mean, crude's basically back to where it was pre-conflict for the most part.

I'm going to say it's bearish, but it's not bullish anymore. No, it's definitely reset some valuations in the energy market, and we discussed that at length on the premium video on Wednesday about heating oil, and that's the proxy for diesel fuel. We have come down to some pretty major support levels where I could see the market trying to slow down the descent a little bit. But the story of Iran and energy values being supportive to grains, that story's definitely run its course for now.

Let's go to grain price action....

Trump Says WHO is Gonna Buy US Grains?? + Corn Upside Reversal

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Trump Says WHO is Gonna Buy US Grains?? + Corn Upside Reversal

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.