The markets are closely watching the ceasefire that is now in effect between Israel and Iran and how it will impact oil prices.
President Trump announced the deal Monday, and tensions have cooled after pressure from the United States. Oil prices fell shortly after, hitting a two-week low. Petroleum analysts tell Reuters the ceasefire effectively wiped out all risk that was built up over the last two weeks.
Analysts are also closely watching to see if Iran retaliates by closing the Strait of Hormuz, which is one of the world’s major transportation routes.
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Experts note that economic growth, fuel demand, and energy diversification are opening new opportunities for U.S. grain and ethanol exports in Southeast Asia.
The agreement is expected to formally take effect on Friday, and markets will continue watching for signs that shipping traffic and global energy flows are returning to normal.
USDA Secretary Brooke Rollins recently told senators that 45Z guidance remains a priority, while also reaffirming support for year-round E15.
Global markets react to events in the Middle East as world leaders gather at the G7 Summit, affecting agriculture, energy, and trade. RealAg Radio’s Shaun Haney joins us to discuss the developments and their potential impact on agriculture.
