Sure! Here’s the translation to American English:
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The recent escalation of tensions in the Middle East, specifically Israel’s attack on Iran on June 13, has triggered alarming volatility in energy markets. According to information from Areté, WTI oil prices surged over 5% in the early hours following the attack, reaching levels not seen in the past four months amid growing fears of potential supply disruptions. Additionally, natural gas has followed this trend, registering a 2.5% increase in benchmark prices.
This climate of instability not only impacts energy prices but also affects agricultural commodity markets that directly depend on these resources. While products like vegetable oils, corn, and sugar are among the most exposed to the current crisis, their behavior has shown less volatility compared to the energy sector as markets remain cautious about the evolving situation.
In the pea market, uncertain price trends are observed. In North America, Canada’s harvest is expected to increase by 4% compared to 2024, while the U.S. is anticipated to see an 8% decrease. In Saskatchewan, the average monthly prices for yellow and green peas have fallen by 4% and 1%, respectively. However, in the U.S., an 11% increase in the price of green peas has been recorded in the last month, contradicting the previous deflationary trend.
The outlook in the European market is equally complicated, with an expected 9% drop in pea production. While green pea prices remain relatively stable, yellow peas have seen a 4% decline in value.
Looking ahead, Canada faces growing challenges in export markets, particularly due to the 100% tariffs imposed by China, along with the anticipation of a Russian production of about 5 million tons, representing a 30% increase from the previous year. India’s recent decision to extend the tariff exemption on yellow pea imports until March 2026 has surprised traders, who anticipated a reimposition of tariffs in the near future. This uncertain landscape adds more pressure to markets attempting to adapt to the effects of international tensions.
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via: MiMub in Spanish
