America will crush more soybeans domestically this season while Iran will process less, according to the US Department of Agriculture’s monthly supply and demand report Tuesday.
Overall, the agency left its US soybean supply estimate unchanged in a March update that is typically uneventful since it’s just a few weeks before the annual spring planting report. Still, the attacks on Iran by the US and Israel have roiled energy markets in recent days, sending prices for soybean oil used to make renewable diesel to the highest since 2022.
A near-halt to vessel traffic in the Strait of Hormuz is ...
