NASHVILLE, TENN. (RFD NEWS) — A shift in global trade relations is taking shape between the United States and India, as geopolitical tensions in the Middle East continue to influence energy markets and global supply chains. With a ceasefire in place, uncertainty remains around key shipping routes like the Strait of Hormuz, where traffic disruptions are impacting fertilizer movement and raising concerns across agriculture.
RealAg Radio host Shaun Haney joined us on Friday’s Market Day Report to break down what these developments mean for farmers.
In his interview with RFD NEWS, Haney discusses what renewed engagement between the U.S. and India signals for global agricultural trade, how tariff rollbacks could impact producers as negotiations continue, and how broader geopolitical strategies— including U.S. involvement in the region—may shape ag markets moving forward.
WASDE Raises Corn, Soybean Prices; Wheat Stocks Increase
USDA’s April WASDE report made very few major changes to U.S. supply, but adjustments to prices and stocks highlight shifting demand across key crops. Corn and soybean outlooks held mostly steady, while wheat supplies and cotton prices moved higher.
Corn projections were unchanged, with feed use steady and strong disappearance reported earlier in the marketing year. The average farm price was raised 5 cents to $4.15 per bushel, reflecting stronger price trends.
Soybean crush increased by 35 million bushels to 2.61 billion, driven by stronger domestic meal demand. Exports were reduced by the same amount, as South American competition continues to pressure U.S. shipments. Ending stocks held at 350 million bushels, while the average price rose 10 cents to $10.30.
Wheat supplies increased due to higher imports, while domestic use declined slightly. Ending stocks rose to 938 million bushels — the largest since 2019/20 — and the average farm price increased to $5.00 per bushel.
Cotton saw no balance sheet changes, but the season-average price ticked up to 61 cents per pound.
Corn Sales Strong; China Active In Soybeans, Sorghum
U.S. export sales were led by strong demand for corn last week, while China remained active in the soybean and sorghum markets. USDA data shows solid buyer interest across major crops and livestock, though performance varied by sector.
Corn sales reached about 53.6 million bushels, up from the prior week and above the recent average. Japan and Mexico led purchases, with exports near 72 million bushels. Soybean sales totaled about 10.9 million bushels, with China the top buyer. Soybean exports reached roughly 23.4 million bushels, driven largely by China.
Wheat sales came in near 6 million bushels, with exports around 13.6 million bushels. Sorghum sales totaled about 4.5 million bushels, with China accounting for nearly all activity, though exports slowed week to week.
Beef sales increased to about 17,400 metric tons, with strong demand from South Korea and Japan. Pork sales declined to about 31,300 metric tons, led by Mexico, with smaller volumes to China. Pork exports also slipped from the prior week, though Mexico remained the dominant destination.
Pork Exports Hold Steady; Beef Variety Meat Surges
U.S. pork exports held steady in February, while beef exports declined, and variety meat demand continued to surge. Data from the USDA and the U.S. Meat Export Federation show strong global demand for pork and beef byproducts, even as market access challenges weighed on beef shipments.
Pork exports totaled about 535 million pounds, up slightly from a year ago. Export value also edged higher to nearly $679 million. Mexico remained the top market, while shipments increased to Japan, South Korea, Central America, and Taiwan. Through the first two months of the year, pork exports are running ahead of last year in both volume and value.
Beef exports totaled about 187 million pounds, down 13 percent from a year ago. Limited access to China continues to weigh on totals. However, exports to Mexico, Taiwan, and parts of Latin America improved. Excluding China, beef export value and volume showed modest gains.
Beef variety meat remains a standout. Exports jumped 12 percent in volume and 40 percent in value, adding significant value per head.
