Mix of drought improvement and degradation for Midwest. Reuters reports EPA proposes retroactive lowering of 2020 RFS mandates. Agri-Foods Canada (finally) acknowledges drought has slashed its wheat and canola crops.
Areas of the Midwest and High Plains received welcome rainfall the week ending Aug. 24, leading to localized drought improvement. But areas that missed out saw drought conditions worsen over the past week.
Light pressure on corn and soybeans, but wheat bounces back. Bipartisan House bill would promote ethanol use. Philippines approves Golden Rice for commercial use. Beef prices soften for second day in a row.
Another round of rain for dry areas of the Midwest. House approves budget resolution. Biden said he planned to stick to his Aug. 31 deadline for military withdrawal. Month-plus streak of beef gains comes to an end.