The conflict between Israel and Iran could cost U.S. farmers when it comes to ordering supplies. Fuel prices are already under pressure, and one economist says the markets have seen some rumbles recently.
“Most recently in the last week, we’ve had, as you know, an escalation of tensions and military conflict. Israel, looking to take out the nuclear capabilities of Iran before they, God forbid, had produced a nuclear weapon. We’ve seen markets gyrate right and left on those energy markets, and oil prices have been moving up,” said Ken Zuckerberg.
Fertilizer could come under pressure, too. Researchers at the University of Illinois say recent action in the Middle East has taken out fertilizer production in Iran. The concern is that it will add to growing uncertainty around Chinese and Russian supplies.
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Strong ethanol exports support long-term growth in corn demand.
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Jake Charleston from Specialty Risk Insurance Agency recapped an Oklahoma auctioneer contest and recent industry events, showing how stakeholder feedback helps insurers gauge market conditions and risk management needs.
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Rising global supplies may cap soybean price strength, while sorghum prices hinge heavily on China’s export demand.
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Strong ethanol output supports corn demand despite export weakness.
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