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On April 3, Iranian Ambassador to Egypt Mojtaba Ferdowsi Poul stated that if the United States decides to send troops to land on Iranian islands, it could lead to the Houthi rebels blocking the Bab el-Mandeb Strait. Ferdowsi Poul said, "We hope our enemies will not make another strategic mistake against Iran. If they want to land on or occupy Iranian islands, another strait will become like the Strait of Hormuz, which will trigger financial markets and the global economy. This is not the situation we want. We will not beg the Houthis, but they have this plan." Houthi political bureau member Mohammed al-Buhaiti previously stated that the movement might block the Bab el-Mandeb Strait connecting the Red Sea and the Gulf of Aden, but only against the invading nation.Futures News, April 3rd - According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed higher on Thursday, with the benchmark contract rising 2.7%, mainly due to a surge in international crude oil futures. US President Trumps statement that the US would continue attacks on Iran sparked market concerns about a potential long-term disruption to crude oil supplies, causing Brent crude futures to jump 7.8%, which boosted sentiment in the Chicago soybean oil market. The May contract closed near its intraday high, slightly below this weeks high of $69.68. The US Department of Agricultures weekly export sales report showed that for the week ending March 26, 2026, net sales of US soybean oil for the 2025/26 marketing year totaled 1,100 tons, a 53% increase from the previous week, but a 58% decrease from the four-week average.Federal Reserves Goolsby: The oil price shock adds another layer of uncertainty.Federal Reserves Goolsby: Uncertainty is leading to an environment of low hiring and low layoffs.Federal Reserves Goolsby: When gasoline prices rise sharply, some complications can arise that could push up inflation expectations. That would make things even more difficult for us.

River transportation issues limit US autumn grain and soy supply

Charlie Brooks

Oct 18, 2022 14:16

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Low river levels have impeded the movement of grain barges to export terminals, leading U.S. soybean exports to lag behind their normal autumnal pace despite an accelerated harvest and greater supply. Monday's release of Department of Agriculture (USDA) data.


According to weekly USDA data on export inspections, corn exports are likewise behind their normal harvest-time pace.


Low water levels on the Mississippi River and its tributaries have impeded the transportation of grain barges to Gulf Coast export terminals, where approximately sixty percent of U.S. agricultural exports are handled.


The most recent disruption in the supply chain happens at the start of the busiest time of year for U.S. crop exports, including the two most valuable cash crops, maize and soybeans.


To prevent groundings in rivers parched by drought, merchants have reduced barge tows by more than 40 percent and decreased the amount of grain loaded onto each barge. The Army Corps of Engineers has been dredging sections of the Mississippi and Ohio rivers to deepen their shipping channels.


Without extra precipitation, though, traders fear that Louisiana Gulf terminals won't be able to acquire enough grain to fulfill export contracts.


This week, according to the National Weather Service, the Mississippi River at Memphis, Tennessee, a choke point where dredging was halted for several days earlier this month, will reach its lowest level ever.


During the week ending October 6, the USDA reported that 1,882 million tonnes of soybeans were inspected for export, up from 976,877 tonnes the previous week but fewer than the 2,452 million tonnes inspected during the same period last year. Terminals on the Louisiana Gulf evaluated only 32% of this tonnage, and season-to-date inspections were 23% lower than the previous year.


Compared to the previous year, when 1.04 million tonnes of maize were inspected, only 448,423 tonnes were inspected last week. Through this point in the season, inspections were down 21%.

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