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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Argentina hopes to boost demand, but critics see the move as a blow to American farmers.
China is making strategic moves by purchasing more soybeans from Argentina and may soon follow the EU and reopen its market to Brazilian chicken exports.
Farmers should watch for soybean export rebounds with harvest, while corn and wheat shipments remain strong and sorghum demand struggles.
Rollins says the new trade relationship with Taiwan, which is committed to buying a significant amount of U.S. soy, could not come at a better time for farmers facing financial strain.
