The proposed biomass-based biodiesel mandates fueled a surge in soyoil futures.
Cash grain prices remain mostly well under last year’s levels.
Markets remain focused on trade and policy events.
USDA made minor adjustments to their crop balance sheets today.
Cattle and hogs both saw consolidation following recent contract highs.
USDA kept its winter wheat crop estimate unchanged and made only modest balance sheet changes aside from cotton.
Announcements on RFS levels and 45Z clean fuel credit imminent, possibly on Friday.
Improved wheat demand along with a slow start to harvest supports basis.

Pro Farmer Editors