Episode 285: The War in Iran Meets the March WASDE

The March WASDE dropped Tuesday, March 10th, though its arrival was in part overshadowed by market concerns about an evolving conflict in the Middle East which has snarled energy and fertilizer supply chains that pass through the Strait of Hormuz. As farmers, market analysts, and the USDA itself struggle to parse what the latest outbreak of fighting might mean for planting decisions and global supplies, the crop in Latin America is already being brought in. As we work to parse this torrent of information, we’re joined once again by DTN Lead Markets Analyst Rhett Montgomery, who takes us beat-by-beat through the latest numbers and helps us keep market fundamentals in perspective even as many traders seem to ignore them. He guides us through the pressures that are weighing on prices today, including the basis for all three major grains, and what news he’s on the lookout for right now.Then, he walks us down the balance sheets, noting USDA updates, especially on the world balance sheets, that might point to shifting conditions that could weigh on farmer decisions later this season. Finally, we’ll hear what Rhett thinks will be driving the news in the days to come, from a planned trip for President Trump to China to weather conditions south of the border.