A peace deal between the U.S. and Iran was forged Sunday after 107 days of war that wreaked economic chaos on global fuel and fertilizer supply chains.

“The Deal with the Islamic Republic of Iran is now complete. Congratulations to all!” President Donald Trump said on social media late Sunday afternoon. “I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!”

Crude oil prices fell almost 5% following Trump’s post. 

Pakistan Prime Minister Shehbaz Sharif, who has served as a peace broker between the U.S. and Iran, also announced the deal. “Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon,” he said. “The official signing ceremony will be on Friday, 19 June in Switzerland.”

The agreement, if it holds, ends 107 days of conflict in the Middle East that cut off the Strait of Hormuz, a crucial global trade chokehold. The disruption of fuel and fertilizer supplies caused price shocks worldwide, including for U.S. crop farmers struggling to stay afloat amid surging production costs. Trump and Agriculture Secretary Brooke Rollins have said they expect prices to fall once the strait reopens. 

The peace deal comes as a recent Reuters/Ipsos poll shows just 31% of rural respondents approve of Trump’s handling of economic issues, with 61% saying they disapprove. In February 2025, about 45% of rural respondents approved of Trump's handling of cost of living issues, and 43% expressed disapproval. 

Trump to meet with Modi at G7 in France

Trump will travel to France late Sunday for a meeting of the Group of Seven nations in Évian-les-Bains, a resort town along Lake Geneva. The annual gathering includes Canada, France, Germany, Italy, Japan, the U.K. and the U.S., as well as the European Union as an informal participant. 

Trump is expected to talk trade at the three-day G7 summit with Indian Prime Minister Narendra Modi, a special guest at the gathering. An agreement, though, isn’t expected to be forged at the G7 meeting, a senior U.S. administration official told Agri-Pulse on the condition of anonymity. 

The U.S. seeks to finalize an interim agreement reached in February for India to buy $500 billion in American goods over five years, including agricultural products. Trump administration envoys traveled to India earlier this month for negotiations, while Secretary of State Marco visited the South Asian nation in late May. 

“Exciting things” are ahead in a pending U.S.-India trade accord for America’s ag industry, Luke Lindberg, USDA undersecretary for trade and foreign agricultural affairs, said last month. 

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U.S. Trade Representative Jamieson Greer will also attend the G7 meeting. As the U.S.-Mexico-Canada Agreement faces a key July 1 renewal deadline, Greer is expected to hold bilateral talks in France this week with his Canadian counterpart, Dominic LeBlanc, Canadian Prime Minister Mark Carney told reporters this weekend. 

Carney indicated he didn’t expect to have a one-on-one with Trump during the G7, saying the broader focus of the meeting would be multilateral discussions about key geopolitical issues, including the Middle East and the Russia-Ukraine war. 

Farm bill politics 

In Washington, the House is in recess all week while the Senate reconvenes Monday afternoon. All eyes are on Senate Agriculture Chairman John Boozman, R-Ark., and his committee’s effort to release a draft farm bill over the next two weeks. 

As speculation swirls on what might be in and out of the initial bill, lobbying campaigns are heating up over thorny political issues like state livestock containment laws. 

A new $30 million national advertising campaign from a group fighting to preserve state animal welfare rules, like California’s Proposition 12, includes an ad in Kansas to thank Sen. Roger Marshall, R-Kan., for withdrawing his support last week from a Republican-backed bill that would nullify such state regulations. 

The American Meat Producers Association is launching the ads across television, radio and digital platforms. AMPA, which declines to identify its funders by name, says it’s backed by companies and groups that care about the “real-world impact” of ag policies.

Boozman has said a measure in the House-passed farm bill that would nullify Prop 12 and similar regulations won’t be included in the committee’s legislation. Still, the provision could still potentially be added to a bill on the Senate floor. 

EU gene editing vote 

The European Parliament votes on Wednesday on whether to approve a new regulation allowing gene editing to be used to produce plants, in what is expected to be a watershed moment for biotechnology on the continent.

The New Genomic Techniques regulation would create two categories: NGT1 plants would be considered equivalent to conventionally bred varieties and be eligible for a streamlined approval process. The NGT2 category would include plants conferring herbicide or insecticide tolerance and other varieties that don’t qualify for the NGT1 category.

The regulation has already gone through the European Union’s “trilogue” process that includes representatives of the European Parliament, the Council of the European Union and the European Commission. It is expected to receive approval.

Georgia on MAGA’s mind?

Rep. Mike Collins, R-Ga., won an endorsement from Trump less than 48 hours before his Senate primary election in Georgia.

The runoff on Tuesday between Collins and his Republican rival, former football coach Derek Dooley, is the latest test of the MAGA movement Trump built a decade ago.

Collins, seen as the “more MAGA-friendly candidate,” is considered the frontrunner in the runoff election, though Dooley “may be the stronger potential general election candidate against Democratic Sen. Jon Ossoff,” says Jessica Taylor, an analyst for the non-partisan Cook Political Report, which has a “lean Democrat” rating on the race.

Here is a list of agriculture or rural-related events scheduled for this week in Washington and elsewhere (all times EST):

Monday, June 15

A meeting of the Group of Seven nations in France, through Wednesday.

The American Feed Industry Association hosts its annual Feed Industry Institute, a forum to learn about the feed and ingredient industry, Minneapolis, through Thursday. 

4 p.m. – USDA’s weekly crop progress report.

Tuesday, June 16

Primaries in Oklahoma and Washington, D.C.; primary runoffs in Georgia and Alabama; and a special primary election to fill the seat in California’s 14th district, which is vacant following the resignation of former Democratic Rep. Eric Swalwell.

Wednesday, June 17

The Livestock Marketing Association holds an annual convention in Deadwood, South Dakota; and World Livestock Auctioneer Championship in St. Onge, South Dakota, through Saturday. 

Thursday, June 18

8:30 a.m. – USDA weekly export sales. 

3:30 p.m. – U.S. Commerce Undersecretary for International Trade William Kimmitt speaks at a Hudson Institute on “Advancing American Interests through Trade, Investment, and Commercial Diplomacy.” 

Friday, June 19

The official signing of a U.S.-Iran peace deal in Switzerland.

For more news, go to Agri-Pulse.com.