Grains Drop on Improved Ratings and Cooler/Wetter Forecast + Iran/Russia and Crude

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.🛢️ Oil prices spiked 9.4% to $78.14/barrel Monday as US-Iran tensions over the Strait of Hormuz reignited supply fears. Trump announced a US blockade to stop Iranian oil tankers, even as strait traffic had already dropped 52% week-over-week. 🚢🌾 Russian grain exports face new uncertainty after Sea of Azov shipping restrictions followed Ukrainian attacks on Russian vessels. The affected route handles roughly a quarter of Russia's grain exports, though no major disruptions have hit yet as harvest ramps up. ⚠️🌱 Soybean futures climbed Monday on hot, dry weather concerns across the Corn Belt, with Nov26 gaining 4 cents to close near $11.95/bushel. Corn followed suit on the same weather worries while wheat pulled back on profit-taking after Friday's Black Sea-driven rally. 🌽📊 US corn and soybean conditions ticked up slightly last week, with corn at 68% good-to-excellent and soybeans at 65%, both above their five-year averages. Winter wheat harvest also jumped to 67% complete, well ahead of the historical pace. ✅🇨🇳 China bought more US soybeans Monday, its fourth flash purchase in a week, pushing total purchases to nearly 4% of its 25mmt commitment. Cumulative new-crop purchases now stand at 1.072mmt, about 4.3% of the White House-outlined target. 🛒🚛 US corn export inspections came in strong at 1.5mmt, up 17% year-over-year despite a weekly dip. Soybean shipments rose sharply from last year while wheat shipments improved week-over-week but still trailed last year's pace. 📦