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Tensions rise amid Biden comments re: China, RFS announcement expected today and sources expect cash cattle prices to soften...
Biden labels Xi a dictator, triggering angry response from China
Corn, soybean and wheat futures are expected to open sharply higher on support from plunging crop condition ratings. Soyoil will face heavy pressure from reports of EPA’s biodiesel mandates.
Plunging crop condition ratings and dryness concerns fueled strong gains in corn, soybean and spring wheat futures overnight. Winter wheat futures actively followed to the upside.
Iowa and Illinois led the declines in corn and soybean CCI ratings.