Synopsis

Following a US-Iran agreement, trade through the Strait of Hormuz may be returning to normality. Upcoming USDA data is expected to show improved US spring planting estimates, potentially adjusting new crop balances. A lighter Southern Hemisphere wheat supply could reshape export flows in the coming trade year, while China's lack of interest in US agricultural goods continues to cast doubt over the purchase agreement.

What you'll learn

  • Grain and fertiliser trade activity via the Strait of Hormuz
  • US corn and soybean planted area for 2026
  • Export outlook for wheat in the new trade year
  • Considerations for Chinese purchases of US agricultural goods
  • Sitrep on key crop development across major exporters

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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