Synopsis

The breakdown of peace deal negotiations between the US and Iran has renewed concerns over trade through the Strait of Hormuz. Additionally, heightened conflict between Ukraine and Russia has led to uncertainty over Black Sea exports at a time when export volumes seasonally peak. As US spring crops reach key development stages, current conditions are shaping the production outlook. US corn exports remain dominant and look to remain competitive against South American supply.

What you'll learn

  • Grain and fertiliser trade activity via the Strait of Hormuz
  • Black Sea wheat export potential
  • US vs South American corn export competitiveness
  • US-China trade update
  • US corn and soybean crop development and 2026/27 trade expectations

Meet the speakers

Matthew Darragh
Grains & Oilseeds Analyst

Matt joined Kpler’s Insight Team in January 2025 as a Grains & Oilseeds Analyst, based in London. Prior to Kpler, Matt was a Cereals & Oilseeds Analyst at the Agriculture and Horticulture Development Board (AHDB), conducting both domestic (UK) and global analysis of the respective grains and oilseeds markets. Before becoming an analyst at AHDB, Matt acquired a Masters of Science in Agricultural Economics at the University of Reading. At Kpler, Matt contributes to the Insight reports and conducts supply and demand analysis to support on the grain balance sheets.

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Ishan Bhanu
Lead Agricultural Commodities Analyst

Ishan joined Kpler’s dry bulk and Insights teams in October 2023. Based in Dubai, he has over 12 years of experience with global grains markets research and trading. Ishan is building an understanding of agricultural markets and trade within Kpler, to add to and support its dry bulk data offering. He is also building analytical tools and balance sheets for major ags like wheat, corn, soybeans and barley, with focus on developing all the support required for trade decision-making by Kpler clients. Ishan has worked as Head of Research at Invivo and as Associate Trader at Olam International. He founded Integrated Research Dubai and was a consultant for major trading houses across the globe, before joining Kpler.

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