Exclusive: Trivium China Answers Our Questions on Timing, Details of China, U.S. Tariff Reductions 

Trump signals optimism despite fresh U.S./Iran clashes | USDA reg on payment limits clears OMB

Link: Sunday Updates, May 31: Trump Pushes Tougher Iran Peace
         Framework as Hormuz Remains Central Issue

Link: New World Screwworm Advances Just 31 Miles from U.S. Border,
         Raising Pressure on Livestock Safeguards
Link: The Week Ahead, May 31: Congress Faces Iran War Vote, Funding
         Battles and Reconciliation Pressure as Lawmakers Return
Link: Weekend Updates, May 30: Board of Trade Concept Could Reopen
          China Demand — But Tariff Relief Timing Murky

Link: Video: Wiesemeyer’s Perspectives, May 31
Link: Audio: Wiesemeyer’s Perspectives, May 31

TOP STORIES
 

— Trivium China answers questions on timing and aspects of possible tariff reductions: Trivium analyst Evan Pay outlines the likely sequencing of U.S./China agricultural tariff cuts, citing reciprocity requirements, a 30×30 billion framework, and uncertainty over whether ag products fall inside or outside that deal.

— Trump signals optimism despite fresh U.S./Iran clashes: Trump urges patience as U.S. and Iranian forces exchange strikes near the Strait of Hormuz, while negotiators continue working on an interim ceasefire extension and framework to reopen the waterway.

— Iran signals U.S. softened language on uranium stockpiles in latest draft: Iran’s negotiating team says revised U.S. draft text drops explicit transfer/disposal requirements for enriched uranium, replacing them with broader language, though Tehran still rejects surrendering its nuclear materials.

— Limited shipping resumes through Strait of Hormuz under U.S. military coordination: Some tankers and LNG carriers are transiting the strait using “dark shipping” tactics with U.S. military guidance, though volumes remain far below the normal 130 vessels per day.

— Rollins links fertilizer relief to Hormuz reopening, defends USDA workforce cuts: USDA Secretary Rollins predicts immediate drops in fertilizer and fuel costs once the strait reopens, while highlighting that USDA staffing has been reduced from 100,000 to 80,000 employees.

FINANCIAL MARKETS

— Equities today: U.S. futures hit fresh record highs led by Nvidia’s new RTX Spark Superchip announcement, boosting AI and tech stocks, while oil prices rise on Hormuz uncertainty; Berkshire Hathaway agrees to acquire homebuilder Taylor Morrison for $6.8 billion.

AG MARKETS

—Overnight grain markets mixed as soybeans lead early gains

Soybeans advance on product strength while corn slips; wheat futures firm ahead of weekly trade.

— Russian wheat strength highlights diverging global grain trends: Russia’s IKAR raises its 2026 wheat production estimate to 91.5 MMT, yet export prices remain elevated near $246/MT due to ruble strength and slow farmer selling, keeping Russian wheat competitive globally.
—India suspends cotton import duties to support textile sector

Five-month duty waiver aims to improve fiber quality access, though currency weakness may limit import surge.

FARM POLICY

— USDA moves closer to implementing new farm program payment limit rules: OMB has completed its review of USDA’s final rule on OBBBA payment limitations and eligibility changes, paving the way for publication of expanded farm safety net provisions affecting PLC and ARC programs.

— Schiff unveils specialty crop package, seeks expanded farm safety net: California Sen. Adam Schiff introduces six bills proposing $5 billion in direct assistance, a permanent disaster program, increased pest management funding, and stronger export competitiveness tools for specialty crop producers.

DEF REGULATIONS

— Zeldin targets DEF rules in push to ease farm equipment burdens: EPA Administrator Zeldin tells Oklahoma farmers the agency is pursuing regulatory and legislative actions to permanently eliminate DEF deratements and expand right-to-repair protections for agricultural equipment.

NEW WORLD SCREWWORM

— New World Screwworm: modern animal health tools offer protection, but prevention remains the key: With a confirmed detection just 31 miles from the U.S. border in Mexico’s Coahuila state, veterinary options have expanded significantly including Exzolt and Dectomax, though experts stress that the sterile insect program — currently releasing 100 million flies per week — remains the essential eradication tool.

ENERGY MARKETS & POLICY
 

— Monday: Oil rebounds as U.S./Iran peace talks remain uncertain: Brent crude climbs back toward $94/barrel as traders grow more cautious about a quick Hormuz resolution, with continued uncertainty keeping geopolitical risk premiums embedded in energy and fertilizer markets.

CONGRESS
 

— Congress returns to tackle Iran, spending and surveillance fights: Lawmakers return from Memorial Day recess facing votes on a War Powers Resolution regarding Iran, border funding, FISA surveillance authorities, FY2027 appropriations markups, and a potential reconciliation package — all before the July 4 recess.

WEATHER

— NWS outlook: Showers and thunderstorms continue across the Northern Rockies, Plains and Southwest, with a Slight Risk of severe thunderstorms over parts of the Plains Monday and Tuesday and excessive rainfall risk over New Mexico and western Texas Tuesday into Wednesday.

— U.S. weather pattern favors crop development, raises wheat harvest concerns: A blocking pattern provides a dry planting window for the eastern Corn Belt while warmth and moisture across the western Corn Belt and Plains support crop development; the Southern Plains face wet harvest conditions that could threaten winter wheat quality.
 

—Equities today: Global equity markets traded mixed overnight as continued enthusiasm surrounding artificial intelligence and technology investment helped support risk appetite, offsetting renewed geopolitical concerns following fresh attacks in the Gulf region. The latest tensions raised questions about the timing of any reopening of the Strait of Hormuz and pushed crude oil prices higher.

U.S. stock futures pushed to fresh record highs Monday, driven once again by strong technology-sector gains that continued to outweigh broader concerns about rising energy costs and their potential impact on economic growth. Futures tied to the S&P 500, Nasdaq 10s0, and the Dow were each up roughly 0.5% in premarket trading. Nvidia led the advance, rising more than 2% before the opening bell after unveiling its new RTX Spark Superchip, marking the company’s entry into the personal computer processor market and setting up direct competition with AMD and Intel. Shares of AMD and Intel fell about 5% on the news. Nvidia’s claims of improved performance and efficiency also boosted sentiment across the broader artificial intelligence and cloud computing space, with software and hyperscale technology companies such as Microsoft and Oracle gaining roughly 4% each.

Outside of technology, market gains were more restrained as investors continued to monitor developments in the Middle East. Oil prices rebounded amid ongoing uncertainty over negotiations between the United States and Iran, keeping concerns alive that elevated energy costs could eventually weigh on economic activity and corporate profits.

Meanwhile, shares of Berkshire Hathaway were little changed after reports that the company agreed to acquire homebuilder Taylor Morrison in a $6.8 billion deal. The transaction marks Berkshire’s first major acquisition since Warren Buffett stepped away from leadership, making it an early test of the conglomerate’s post-Buffett strategy.

In Asia, Japan +0.9%. Hong Kong +0.9%. China -0.3%. India -0.7%.
 

In Europe, at midday, London -0.1%. Paris +0.1%. Frankfurt +0.4%.

—Overnight grain markets mixed as soybeans lead early gains

Soybeans advance on product strength while corn slips; wheat futures firm ahead of weekly trade

Overnight grain and oilseed markets traded mixed Monday morning, with soybeans and wheat posting gains while corn futures edged lower as traders continued to assess favorable U.S. growing conditions, global demand prospects, and geopolitical developments affecting energy and fertilizer markets.

July corn futures were down 1 cent at $4.4575 per bushel, extending the market’s recent struggle to sustain rallies amid generally favorable U.S. weather forecasts and expectations for strong crop development across much of the Corn Belt. Traders remain focused on planting progress in eastern states, where a recent drying trend has allowed farmers to make significant fieldwork advances.

July soybeans rose 5¼ cents to $11.92 per bushel, supported by strength across the soybean product complex and ongoing uncertainty surrounding final U.S. acreage. Market participants continue to debate whether late planting decisions and producer economics could shift additional acreage toward soybeans ahead of USDA’s June 30 Acreage report.

Soybean products also posted gains overnight. July soybean meal increased 70 cents to $330.50 per ton, while July soybean oil added 0.25 cent to 77.97 cents per pound. Soybean oil continues to draw support from biofuel demand expectations and uncertainty surrounding global vegetable oil supplies.

Wheat futures were higher across both major U.S. contracts. July Chicago soft red winter wheat gained 1¾ cents to $6.1225 per bushel, while July Kansas City hard red winter wheat advanced 4 cents to $6.5375. Wheat markets continue to monitor crop quality concerns in parts of Russia and Europe, along with tightening exporter selling interest in the Black Sea region. Russia’s IKAR recently increased its wheat production estimate but warned that excessive rainfall and cool temperatures could negatively affect winter wheat quality.

The broader agricultural sector also remains attentive to developments in the Middle East. Continued uncertainty regarding negotiations between the United States and Iran, along with ongoing disruptions to shipping through the Strait of Hormuz, have kept energy markets elevated. Higher crude oil prices are supporting biofuel-related commodities while raising concerns about fertilizer costs and global transportation expenses.

As trading moves into the U.S. day session, attention will remain focused on weather forecasts, export demand signals, and the first weekly crop condition ratings of the growing season, which will provide an initial benchmark for corn and soybean crop development. While early-season crop ratings historically have shown little correlation to final yields, they often influence market sentiment and serve as a key reference point for traders throughout the summer.

—Russian wheat strength highlights diverging global grain trends

International grain markets opened the week with a mixed tone as improving crop prospects in Russia weighed on some futures markets, while cash export values for Russian wheat remained firm due to currency strength and limited farmer selling

Russia’s influential IKAR consultancy raised its 2026 wheat production estimate to 91.5 million metric tons from 90 million metric tons, citing favorable spring wheat growing conditions. The higher forecast reinforces expectations for another large Russian crop, although IKAR warned that excessive rainfall and cool temperatures in some regions could hurt winter wheat quality and protein levels. Russia remains the world’s largest wheat exporter, making its production outlook a key driver of global wheat pricing.

Despite the larger crop outlook, Russian export prices remain elevated. Russian 12.5% protein FOB wheat for June shipment was quoted near $246 per metric ton, supported by a stronger ruble and continued reluctance among Russian farmers to market stored grain inventories. Tight farmer selling has limited export supplies even as harvest approaches. Recent reports indicate Russian export wheat prices have climbed to their highest levels in several months.

In Europe, Paris milling wheat futures declined €1.00 per metric ton to approximately €179 per metric ton ($206.50 per metric ton). Using a standard conversion, that equates to roughly $5.62 per bushel, compared with Russian FOB wheat values near $6.69 per bushel. The premium for Russian wheat reflects export demand and currency-related support despite expectations for another large crop.

Asian markets were mixed. Dalian July corn futures gained about one cent to $8.63 per bushel equivalent, remaining well above current U.S. corn values. For comparison, Chicago corn futures recently traded near the mid-$4 per bushel range, highlighting the continued premium in China’s domestic corn market driven by government policies and import management.

Vegetable oil markets weakened as July Malaysian palm oil futures slipped 2 ringgit to 4,503 ringgit per metric ton. Palm oil remains an important barometer for global vegetable oil demand and often influences soybean oil pricing in both Chicago and international biofuel markets.

The key development for wheat traders is the growing disconnect between production forecasts and cash export prices. Russia’s larger crop outlook would normally pressure world wheat values, but a stronger ruble, slow farmer selling, and uncertainty regarding wheat quality are helping maintain firm export offers.

Meanwhile, Northern Hemisphere weather remains generally favorable across much of Russia, Europe, and the U.S. Plains. If those conditions persist through harvest, global wheat supplies could become increasingly burdensome later this summer.

For U.S. exporters, Russian FOB wheat at roughly $246 per metric ton remains highly competitive into major importing regions such as North Africa and the Middle East. However, any deterioration in Russian quality could shift demand toward higher-protein supplies from the United States, Canada, and parts of Europe.

The international grain market continues to balance three competing forces: expanding Black Sea production prospects, weather-driven quality concerns, and ongoing geopolitical risks affecting energy and freight costs. Those factors are likely to remain the primary drivers of global grain pricing through the Northern Hemisphere harvest season.

—India suspends cotton import duties to support textile sector

Five-month duty waiver aims to improve fiber quality access, though currency weakness may limit import surge

India has suspended its 11% import duty on cotton through Oct. 30 in a move designed to improve access to high-quality, contamination-free cotton for the country’s textile and yarn industry. The decision comes as Indian spinning mills face strong demand for yarn exports and increasingly seek cleaner cotton supplies that meet international quality standards.

The policy marks another effort by New Delhi to balance the interests of cotton growers and textile manufacturers. While domestic cotton production remains substantial, Indian mills have periodically turned to imports from countries such as the United States, Brazil, and Australia when quality concerns, contamination issues, or tight local supplies emerge.

Despite the duty suspension, industry analysts do not expect a repeat of the sharp import surge seen during the last duty-free period. The Indian rupee has weakened against the U.S. dollar, making imported cotton more expensive and reducing much of the financial advantage created by the tariff removal. As a result, domestic cotton remains relatively competitive in many regions.

The comparison to last year’s experience is notable. When India allowed duty-free cotton imports from mid-August 2025 through December, imports surged to a record 4.7 million bales as mills aggressively sourced foreign cotton. That wave of imports helped supplement domestic supplies and improved access to higher-grade fiber for export-oriented textile manufacturers.

This year, however, currency dynamics have changed the equation. Even with the 11% duty removed, the weaker rupee has increased the landed cost of imported cotton, potentially limiting purchases to mills that specifically require premium-quality fiber or contamination-free cotton for high-value yarn and fabric production.

For global cotton exporters, including the United States, the policy remains supportive. India is one of the world’s largest cotton consumers and textile producers, and any reduction in import barriers creates additional marketing opportunities. U.S. cotton, in particular, is often favored by Indian mills seeking consistent quality and low contamination levels.

From a market perspective, the decision underscores continued strength in India’s textile sector despite broader economic uncertainties. It also signals that policymakers are prioritizing the competitiveness of the country’s spinning and apparel industries, which are major employers and important export earners.

For U.S. cotton producers, the duty suspension is viewed as a modestly bullish development. While imports may not reach last year’s record levels due to currency headwinds, the removal of the tariff keeps India’s import channel open and could provide incremental demand support if domestic Indian supplies tighten or quality concerns intensify during the marketing year.

—USDA moves closer to implementing new farm program payment limit rules

OMB clearance paves way for USDA to roll out OBBBA farm safety net changes

USDA is one step closer to implementing major farm program changes enacted under the One Big Beautiful Bill Act (OBBBA) after the Office of Management and Budget completed its review of USDA’s final rule covering payment limitations, payment eligibility requirements, and other program modifications.

OMB clearance is often the final regulatory hurdle before a rule is formally published and implemented, meaning producers, lenders, and farm organizations could soon receive details on how USDA will administer the expanded farm safety net provisions approved by Congress.

The rule is expected to incorporate several significant changes included in OBBBA, particularly revisions to commodity program payment limitations and eligibility requirements. Among the most closely watched provisions are increases in payment limits, adjustments to how farming operations qualify for payments, and updates designed to better reflect the structure of modern family farms and multi-member agricultural operations.

The regulatory package is especially important because many producers have argued that existing payment limitation rules have not kept pace with rising production costs, larger farm sizes, and increasingly complex ownership structures. Farm groups have long contended that outdated eligibility requirements can limit the effectiveness of federal support programs during periods of low commodity prices or weather-related losses.

The timing is noteworthy as producers continue to face margin pressure from elevated input costs, volatile commodity prices, higher interest rates, and uncertainty surrounding export demand. Implementation of the OBBBA provisions would provide additional certainty ahead of 2027 crop planning and could increase the amount of assistance available to qualifying operations under programs such as Price Loss Coverage (PLC) and Agriculture Risk Coverage (ARC).

USDA has not yet released the final text of the rule, but OMB’s completion of its review signals that publication could occur in the near future. Once released, farm groups will be closely examining how USDA interprets congressional intent, particularly regarding actively engaged farming requirements, attribution rules, and the administration of the higher payment limitations authorized by Congress.

From a policy perspective, the rule represents one of the first major administrative steps USDA must take to implement the farm safety net enhancements contained in OBBBA. The final language will determine how quickly producers can access the expanded benefits and whether additional guidance from USDA’s Farm Service Agency will be required before the changes are fully operational.

For agricultural lenders and farm managers, the forthcoming rule will provide greater clarity on potential government support levels at a time when many operations are reevaluating risk management strategies amid continued economic and geopolitical uncertainty.

—Schiff unveils specialty crop package, seeks expanded farm safety net

California senator pushes six bills on disaster aid, research, trade and additional producer assistance

According to Politico, Sen. Adam Schiff (D-Calif.) is introducing a package of six bills aimed at strengthening federal support for specialty crop producers, including proposals for additional economic assistance, a permanent disaster program, increased pest management funding, technology research investments, and expanded export competitiveness initiatives.

Schiff said the legislation is intended to address the unique needs of specialty crop growers, noting that specialty crop agriculture faces different challenges than the commodity crop sectors that dominate much of the Midwest and South. As part of the package, Schiff is advocating for inclusion of the measures in the Senate farm bill debate.

A centerpiece of the proposal would provide an additional $5 billion in direct assistance to specialty crop producers. 

Another measure would create a permanent specialty crop disaster assistance program, replacing the current reliance on ad hoc congressional disaster packages following weather, disease, or market disruptions.

The legislative package also includes proposals to increase federal pest and disease management funding, dedicate $30 million annually to specialty crop technology and innovation research, and strengthen efforts to improve the competitiveness of U.S. fruits, vegetables, tree nuts, and other specialty crops in export markets.

Schiff’s initiative is likely the first of several congressional responses to USDA’s announcement Friday of a $1.625 billion specialty crop assistance package. While the Trump administration’s bridge aid program was welcomed by many growers as a recognition of the sector’s economic challenges, industry reaction has been mixed, with some producer groups and stakeholders arguing the funding level falls short of actual losses and leaves significant gaps for larger operations.

Particular concerns have centered on payment limitations, commodity coverage differences, and questions about whether the program adequately addresses the scale of labor, input, weather, and market challenges facing specialty crop producers. California lawmakers, along with representatives from other specialty crop-producing states, are expected to continue pressing USDA and congressional leadership for additional support.

The debate also underscores a broader policy issue likely to emerge during farm bill negotiations: whether specialty crops should receive a more permanent and predictable safety net similar to the programs available to major row crop producers. Schiff’s proposal for a standing disaster program reflects growing pressure from the industry to move away from emergency aid packages and toward a more structured risk-management framework.

With specialty crop legislation traditionally attracting bipartisan support, the package could become an early marker of how aggressively Congress seeks to supplement USDA’s recently announced assistance and address concerns that significant segments of the specialty crop sector remain undercompensated. Politico reported that Schiff intends to push for the measures to be incorporated into the Senate farm bill debate.

—Zeldin targets DEF rules in push to ease farm equipment burdens

EPA administrator tells Oklahoma farmers agency is moving aggressively to eliminate DEF deratements and expand right-to-repair protections

According to the Oklahoma Farm Report (link), Lee Zeldin told Oklahoma farmers and ranchers that the Trump administration is pursuing an aggressive effort to roll back federal Diesel Exhaust Fluid (DEF) regulations that many producers argue have reduced equipment reliability and increased operating costs during critical planting and harvest periods. Speaking at a farm roundtable in Logan County, Oklahoma, Zeldin said the Environmental Protection Agency is working through both regulatory and legislative channels to permanently eliminate DEF deratements and provide farmers greater flexibility in repairing their own equipment.

Hosted by Stacy Simunek at the ranch of John Pfeiffer Jr., the discussion focused on the challenges producers face as farm income remains under pressure from weak commodity prices, rising input costs, and increasingly complex equipment requirements.

Zeldin argued that DEF-related shutdowns and power-reduction systems can create major problems when equipment fails during narrow harvest windows. “When a tractor goes down in the middle of a harvest, it results in lost time and lost money,” Zeldin said, adding that producers operating on thin margins cannot afford regulatory requirements that keep equipment out of service during critical fieldwork.

The EPA administrator outlined a series of actions the Trump administration has taken over the past year aimed at reducing the impact of emissions-related equipment restrictions.

At the Iowa State Fair in August 2025, the EPA announced initial efforts to address DEF deratements and began working with manufacturers on software updates intended to reduce equipment disruptions. In February 2026, the agency issued right-to-repair guidance clarifying that farmers could repair their own machinery or use independent mechanics rather than relying exclusively on authorized dealerships. That same month, the EPA sent demand letters to 14 major engine manufacturers representing roughly 80% of the market, seeking data on DEF system failures and performance issues.

The administration escalated the effort in March when President Donald Trump announced guidance aimed at eliminating DEF sensor requirements, a move Zeldin described as part of a broader strategy to overhaul existing emissions mandates affecting agricultural equipment.

Looking ahead, Zeldin said the EPA is using data collected from manufacturers to support a permanent regulatory rewrite. The agency’s proposed 2027 nitrogen oxide emissions rule, currently under review by the Office of Management and Budget, would eliminate DEF deratements entirely if finalized.

Meanwhile, lawmakers are pursuing a legislative solution. Zeldin highlighted language added to the House farm bill package that addresses DEF mandates and certain tractor emissions requirements. The measure now awaits Senate consideration, where agricultural equipment regulations could become part of a broader debate over farm policy and regulatory reform.

Zeldin also pointed to changes within the EPA’s enforcement division and cited President Trump’s pardon of Wyoming rancher Troy Lake as evidence of the administration’s broader effort to reduce what it views as excessive regulatory burdens on rural America.

For farmers and ranchers, the issue extends beyond regulatory philosophy. Modern tractors, combines, and other high-horsepower equipment increasingly rely on complex emissions systems that producers say can be difficult and expensive to service, particularly in remote rural areas. Farm organizations have argued that equipment downtime during planting and harvest can have significant economic consequences, especially during years of tight margins.

The debate is likely to intensify as the administration advances its regulatory proposal and Congress considers farm bill provisions related to equipment emissions standards. Supporters contend the changes will improve reliability and lower costs for producers, while environmental groups are expected to argue that the rollback could weaken emissions controls designed to reduce air pollution from diesel engines.

Quote of note: “We have heard the calls loud and clear from across the country, including right here in Oklahoma,” Zeldin said. “It is our full intention … to do the maximum amount possible decommissioning these restrictions pursuant to the law.”

A source texted me the following: “If DEF systems are no longer required, who is going to buy all the trucks for sale that currently have DEF systems? Creates the potential for either substantial discounts on those vehicles and then the cost of removing those systems. No one has brought up offering some type of financial assistance, but one can imagine that would potentially come up. I know on my pickup, the delete the DEF system it would cost around $2000.”

—New World Screwworm: modern animal health tools offer protection, but prevention remains the key

Latest detection just 31 miles from the U.S. border highlights growing threat to U.S. livestock producers

The New World screwworm threat facing the U.S. livestock industry has become increasingly urgent following USDA confirmation that the flesh-eating parasite was detected in a sheep in Mexico’s Coahuila state, only 31 miles from the U.S. border — the closest confirmed detection during the current outbreak. The finding has intensified concerns across the cattle industry, particularly as the U.S. herd remains near its lowest level in more than 75 years and beef prices remain historically strong.

Unlike most livestock parasites, New World screwworm larvae feed on living tissue rather than dead tissue. Female flies lay eggs in open wounds, branding sites, castration wounds, tick bites, navels of newborn calves, or other skin openings. Once the eggs hatch, the larvae burrow deeper into the animal, enlarging wounds and causing severe tissue damage that can ultimately prove fatal if left untreated.

The encouraging news for producers is that today’s veterinary pharmaceutical toolbox is considerably more advanced than during the outbreaks that plagued the southern United States decades ago. In fact, federal regulators have expanded available treatment options significantly over the past year as the parasite has moved north through Mexico.

One of the most important new products is Exzolt Cattle-CA1, a fluralaner topical treatment developed by Merck Animal Health. Conditionally approved by FDA in late 2025, Exzolt became the first product specifically approved for both the prevention and treatment of New World screwworm infestations in cattle. The product provides producers with a targeted option designed specifically for this parasite rather than relying solely on broader-spectrum parasite treatments.

Another major addition is Dectomax-CA1 from Zoetis. The doramectin-based injectable was initially approved for cattle and has since received expanded emergency authorization for use in dairy cattle, sheep, goats, horses, swine and deer. Veterinarians view doramectin as one of the industry’s most effective tools because it not only kills existing larvae but can provide several weeks of protection against reinfestation.

FDA has also authorized use of Ivomec 1% Injection from Boehringer Ingelheim Animal Health for New World screwworm prevention. The ivermectin-based product is familiar to most cattle producers and can be used strategically around calving, castration and other high-risk events where fresh wounds attract screwworm flies.

Additional emergency-use products have entered the market as well. Negasunt Powder, a topical wound treatment, is designed to kill larvae directly within infested wounds, while F10 Antiseptic Wound Spray combines wound care and insecticidal protection to help prevent and treat infestations across multiple livestock species.

These newer products complement existing parasite-control tools that producers have relied upon for years. Modern macrocyclic lactone products, including ivermectin, doramectin, moxidectin and eprinomectin, remain highly effective when infestations are detected early. Veterinarians also utilize topical sprays, wound dressings and larvicides that can be applied directly to wounds where flies may deposit eggs.

Yet animal health experts consistently emphasize that treatment is not the same as control.

The most effective defense remains preventing flies from depositing eggs in the first place. Prompt treatment of cuts and wounds, aggressive fly-control programs, careful monitoring of newborn calves and close observation of cattle showing unusual wound drainage or poor healing remain critical management practices. The earlier an infestation is discovered, the more successful treatment tends to be.

Meanwhile, the livestock industry’s most powerful weapon against screwworm is not a pharmaceutical product at all. It is the sterile insect technique that eradicated the pest from the United States decades ago. Under this approach, millions of sterilized male flies are released into affected regions. When wild females mate with sterile males, no offspring are produced, gradually collapsing the population.

USDA is currently releasing approximately 100 million sterile flies per week in Mexico while expanding production capacity to increase output if necessary. Federal officials view the sterile-fly program as the cornerstone of keeping the parasite from crossing the border and becoming reestablished in the United States.

For U.S. cattle producers, the situation serves as a reminder that pharmaceutical products can protect individual animals and help contain localized outbreaks, but they cannot eliminate the pest across an entire region. That is why USDA has maintained strict livestock import restrictions, intensified surveillance efforts and accelerated investments in sterile-fly production facilities.

The closer New World screwworm moves toward the United States, the more important those broader eradication efforts become. With the latest confirmed case now only 31 miles from the border, the livestock industry finds itself in a far stronger position than in past decades from a treatment standpoint. However, the lesson from previous eradication campaigns remains unchanged: pharmaceuticals can manage infections, but eradication is what protects the national cattle herd.

—Monday: Oil rebounds as U.S./Iran peace talks remain uncertain

Strait of Hormuz concerns keep energy markets on edge despite ongoing negotiations

Brent crude oil futures climbed back toward $94 per barrel on Monday, recovering a portion of last week’s losses as traders reassessed the prospects for a U.S./Iran agreement and the future of shipping through the Strait of Hormuz.

The market reaction reflected growing uncertainty after Washington and Tehran exchanged revised proposals over the weekend aimed at extending the current ceasefire and establishing a framework to reopen the Strait of Hormuz. While negotiations remain active, neither side has indicated that a breakthrough is imminent, leaving energy markets focused on the risk of renewed disruptions in one of the world’s most important maritime chokepoints.

President Donald Trump further underscored the challenges facing negotiators by reiterating that any agreement must include Iran ending its nuclear program and restoring the Strait of Hormuz as a fully open international shipping route. Those demands remain among the most sensitive issues in the talks and could complicate efforts to finalize a broader agreement.

Although crude oil prices posted a monthly decline in May as investors increasingly bet that Washington and Tehran would eventually reach a diplomatic settlement, prices remain significantly above pre-conflict levels. The near shutdown of the Strait of Hormuz during the conflict created one of the largest disruptions to global energy flows in recent history, affecting crude oil, refined products, liquefied natural gas shipments, and key petrochemical feedstocks.

For agricultural markets, fertilizer producers and importers continue to watch developments closely. Prolonged restrictions on Hormuz traffic have already increased transportation costs and raised concerns about fertilizer availability for Southern Hemisphere producers preparing for upcoming planting seasons. Energy-intensive nitrogen fertilizer production remains particularly vulnerable to elevated natural gas and fuel costs.

The market’s rebound on Monday suggests traders are becoming more cautious about assuming a rapid diplomatic resolution. While negotiations continue, the absence of a finalized agreement means geopolitical risk premiums remain embedded in crude oil prices. Until there is clear evidence that shipping through the Strait of Hormuz can resume normally and remain secure, energy markets are likely to remain highly sensitive to developments in the U.S./Iran negotiations.

Meanwhile, the longer uncertainty persists, the greater the potential impact on global fuel prices, fertilizer costs, freight rates, and ultimately food production costs worldwide. For now, the market is balancing hopes for diplomacy against the reality that major disagreements remain unresolved.

—Congress returns to tackle Iran, spending and surveillance fights

Lawmakers face packed agenda as House and Senate reconvene after Memorial Day recess

Congress returns the week of June 1 facing one of its most consequential stretches before the July 4 recess, with lawmakers confronting unresolved debates over the Iran conflict, homeland security funding, surveillance authorities, government spending and a potential new reconciliation package. The Senate convenes at 3 p.m. ET Monday, while the House returns Tuesday at noon ET.

At the center of the week is a delayed House vote on a bipartisan War Powers Resolution related to U.S. military operations against Iran. House Republican leaders pulled the vote before the Memorial Day recess after concerns emerged that the measure could pass with support from Democrats and a small group of Republicans. Leadership is now expected to revisit the issue as lawmakers continue pressing for greater congressional oversight of military actions.

The debate follows a rare Senate rebuke of the White House, where several Republicans joined Democrats in advancing a similar measure aimed at limiting the president’s authority to continue military operations without congressional approval. The issue is likely to remain a focal point as lawmakers seek additional classified briefings and greater transparency regarding U.S. objectives in Iran and the broader Middle East.

Meanwhile, House Speaker Mike Johnson (R-La.) faces mounting pressure on multiple fronts. Republicans returned from recess after missing President Trump’s self-imposed June 1 target for advancing additional border and immigration funding, including money for Immigration and Customs Enforcement and Border Patrol operations. Senate Republicans remain divided over how to proceed after controversy surrounding the administration’s proposed $1.8 billion “weaponization” fund, which was temporarily blocked by a federal judge.

House leaders are preparing for another politically difficult vote tied to a discharge petition expected to force consideration of a package combining Russia sanctions with additional aid for Ukraine. The effort could expose divisions within both parties over foreign policy priorities and U.S. support for Ukraine.

Another major issue will be the future of key surveillance authorities under the Foreign Intelligence Surveillance Act (FISA). Congressional leaders continue negotiating extensions and reforms to intelligence-gathering authorities that administration officials argue are critical for national security operations. Conservatives continue pushing for warrant requirements tied to the surveillance program, while the White House and GOP leadership favor a cleaner extension. Congress has already delayed the issue twice.

Appropriations activity will also accelerate as lawmakers begin marking up fiscal year 2027 spending bills. House committees are scheduled to review funding legislation covering agriculture, FDA programs, State Department operations and the Justice Department, officially launching another appropriations season while several fiscal year 2026 disputes remain unresolved.

Republicans are also expected to renew discussions about a broader reconciliation package that could include tax provisions, immigration measures, energy policy and spending reductions. While leadership continues to target action before the August recess, significant disagreements remain over the size of spending cuts, border funding levels and the scope of potential tax relief.

The result is a week that could shape congressional priorities for the remainder of the summer, with decisions on Iran, surveillance powers, appropriations and budget reconciliation likely to dominate the political landscape heading into July. Link to The Week Ahead for more details.

— NWS outlook: Showers and thunderstorms continue across the Northern Rockies into the Plains and the Southwest over the next few days… …There is a Slight Risk (level 2/5) of severe thunderstorms over parts of the Plains on Monday and Tuesday… …There is a Slight Risk (level 2/4) of excessive rainfall over parts of New Mexico and western Texas on Tuesday into Wednesday.

—U.S. weather pattern favors crop development, raises wheat harvest concerns

Eastern Corn Belt dry window aids planting while western moisture boosts crop prospects

A persistent weather blocking pattern is expected to dominate the eastern Corn Belt through the next five days, bringing largely dry conditions to Indiana, Michigan, and Ohio. While the lack of rainfall will further reduce topsoil moisture reserves, it also provides an important opportunity for farmers to complete late planting and fieldwork in areas that have struggled with excessive spring moisture.

Forecast models indicate the blocking pattern will begin to weaken during the 6–10-day period, allowing a more typical weather pattern to return. As a result, near-normal rainfall is expected during the 11–15-day outlook, helping support emergence and early-season crop development across the eastern Midwest after planting activities are completed.

Meanwhile, conditions across the western Corn Belt and Northern Plains are expected to remain highly favorable. Widespread precipitation totaling 1.5 to 2.5 inches over the next two weeks should help replenish soil moisture and ease concerns in areas that have experienced dryness. The rainfall is expected to be accompanied by exceptionally warm temperatures, running 5 to 7 degrees above normal across portions of the western Corn Belt and eastern Northern Plains, accelerating crop emergence and early vegetative growth.

The Southern Plains are also forecast to receive near- to above-normal rainfall over the next 15 days. The moisture should improve pasture conditions and benefit summer row crops, particularly corn, sorghum, and soybeans. However, the wetter pattern is likely to create challenges for winter wheat producers, with frequent rain events expected to delay harvest activity and potentially raise concerns about grain quality if wet conditions persist into maturity.

Overall, the forecast presents a generally constructive outlook for U.S. crop development. The key near-term benefit is the dry planting window across the eastern Corn Belt, while the combination of moisture and warmth across the western Corn Belt and Plains should support crop establishment. The primary weather risk remains in the Southern Plains, where excessive rainfall could hinder winter wheat harvest progress even as it improves prospects for pastures and summer crops.