There is more trouble in the Red Sea as ongoing fighting continues to prove troublesome for ag shipping.
Houthi rebels continued their attacks over the weekend, even striking a U.S. navy vessel. Last week, the group began targeting Israeli-linked ships in the Red Sea due to the current conflict in Gaza. They have controlled much of the Arabian peninsula since the conflict began, forcing ships to bypass the Suez Canal and take a longer route.
President Donald Trump ordered the U.S. military to strike at the Houthi’s.
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All eyes will be on today’s Cattle on Feed Report, which analysts say could give a clearer picture of where the market goes next.
According to the National Council of Farmers Cooperatives (NCFC), President and CEO Chuck Conner says, there is only one other option besides addressing ag labor shortages.
U.S. aquaculture may gain competitive ground as harmful subsidies are phased out abroad, but producers should monitor shifts in import supply chains and trade enforcement closely.
Farmers await concrete trade commitments from China. Until then, export prospects for soybeans, corn, and sorghum remain uncertain against strong South American competition.
National Sorghum Producers CEO Tim Lust said farmers face a challenging year with strong supply, murky trade conditions, and uncertain access to their largest market: China.
China has been largely absent from U.S. markets lately, but not when it comes to cotton. It’s a buy that, traders say, isn’t surprising given China’s limitations.
