EUR/USD
1.16131
0.083%
Gold
4543.64
1.705%
Oil
88.100
0.405%
USD/JPY
158.709
-0.031%
GBP/USD
1.34145
0.047%
GBP/JPY
212.905
0.015%
Real-time News
March 25 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) corn futures closed slightly higher on Tuesday, with the benchmark contract rising 0.7%. Investment funds are still grappling with the uncertainty surrounding the potential war between the US and Israel against Iran. International crude oil futures rose again on Tuesday, triggering speculative buying in the corn market and pushing up corn prices. Grain and oilseed prices have recently largely followed crude oil price movements, reflecting two factors: firstly, corn and soybean oil are used in biofuel production; and secondly, investors view these crops as a hedge against inflation. The Middle East conflict has disrupted shipping in the Gulf region, causing natural gas prices to surge and impacting the fertilizer market. Furthermore, export restrictions imposed by non-Gulf region fertilizer suppliers, including Russia, could further exacerbate short-term supply shortages. Russia has suspended ammonium nitrate exports until April 21 to ensure domestic supply. Russia controls approximately 40% of the global ammonium nitrate supply.On March 25th, Goldman Sachs stated in a report that disruptions to nitrogen fertilizer supplies in the Strait of Hormuz could lead to a decline in global grain production, altering planting decisions and potentially pushing up grain prices. The report noted that fertilizer shortages could result in delayed or insufficient nitrogen fertilizer application, causing a drop in grain yields and prompting farmers to switch to crops like soybeans, which require less fertilizer. According to data from the U.S. Fertilizer Association, in some years, U.S. farmers import as much as 50% of their fertilizer. With supplies still about 25% below normal levels, spring planting could face challenges. Goldman Sachs stated that since the conflict began, nitrogen fertilizer prices, which account for about 20% of grain production costs, have risen by 40%. Supply disruptions could lead to fertilizer shortages in other regions and drive up production costs. While U.S. farmers are currently relatively unaffected due to advance pre-planting season purchases, supply disruptions in Europe, Australia, and the Southern Hemisphere could boost demand for U.S. grain exports and push up U.S. grain prices.Key Futures Data and Events to Watch Today (March 25, 2026, Wednesday): 1. 09:20 RMB 450 billion 1-year Medium-term Lending Facility (MLF) and RMB 20.5 billion 7-day reverse repos mature today; 2. 17:00 UK LME copper inventory change (tons) to March 25; 3. 22:30 US EIA crude oil inventories (million barrels) for the week ending March 20; 4. 22:30 US EIA Cushing, Oklahoma crude oil inventories (million barrels) for the week ending March 20; 5. 22:30 US EIA Strategic Petroleum Reserves (million barrels) for the week ending March 20; 6. The annual meeting of the European Central Bank and its observers is scheduled to take place.Airgas Chemicals has restricted helium orders following damage to Qatar’s liquefied natural gas fields.1. All three major U.S. stock indexes closed lower. The Dow Jones Industrial Average fell 0.18% to 46,124.06 points, the S&P 500 fell 0.37% to 6,556.37 points, and the Nasdaq Composite fell 0.84% to 21,761.89 points. Salesforce fell over 6%, with IBM falling over 3%, leading the decline. The Wind U.S. Tech Big Seven Index fell 1.29%, with Google falling nearly 4% and Microsoft falling over 2%. The Nasdaq China Golden Dragon Index fell 0.43%, with Hesai Technology falling over 14% and Xinyi Technology falling over 4%, with tech stocks leading the decline. All three major U.S. stock indexes gave back some of Mondays gains. 2. The three major European stock indexes closed mixed. The German DAX fell 0.07% to 22,636.91 points, the French CAC40 rose 0.23% to 7,743.92 points, and the UK FTSE 100 rose 0.72% to 9,965.16 points, mainly due to divergent expectations regarding the Middle East situation and central bank policies. 3. The most active US crude oil futures contract closed up 0.3% at $88.39 per barrel; the most active Brent crude oil futures contract rose 0.02% to $95.94 per barrel. 4. International precious metals futures generally closed higher, with COMEX gold futures rising 1.53% to $4474.90 per ounce and COMEX silver futures rising 3.01% to $71.44 per ounce.
