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🌽 White House Biofuels Event & RVO Decision
President Trump is hosting a major ag event next week with farmers and biofuel producers 🇺🇸
Comes just ahead of the 2026–2027 blending mandate decision
Potential increase in mandates = stronger demand for ethanol & biodiesel
⚠️ Refiners pushing back, warning of higher fuel prices
Timing matters with Middle East conflict already pressuring energy markets

💸 Rising Farm Costs Becoming Political
War-driven input inflation is hitting farmers hard 🚜
Fertilizer + fuel costs surging right before planting
Margins already tight due to weak grain prices
Could impact rural sentiment ahead of midterms 🗳️
Higher farm costs = potential food inflation pressure 🍔

🌾 Wheat Market Update
Wheat futures slipped Tuesday 📉
Chicago wheat ~ $5.90, KC wheat ~ $6.07
Cold temps + ongoing dryness in the Plains
Forecast: hot + dry → then cooldown
Russia still undercutting U.S. on price 🌍

🌍 Trump Delays China Trip
Trade tensions stay in focus 🇺🇸🇨🇳
Visit pushed back 5–6 weeks
Trump ties trip to China helping reopen Hormuz
Treasury says delay is logistical

⏳ Delays progress on ag trade talks (soybeans!)
Meanwhile:
Strait of Hormuz effectively closed 🚢
Iranian attacks continue across the region
Energy markets remain on edge

🇧🇷 Brazil Soybean Export Problems
Brazil facing fresh export disruptions 🚫
China tightening inspection standards
Issues: insects, damage, treated beans
Cargill paused some shipments
Local soybean bids have collapsed in some areas

Officials heading to China to try and fix it 🤝
👉 This could shift demand back toward the U.S. if it drags on