FOMC minutes note increase in inflation, but attribute rise to transitory factors. Strike by contract workers interrupting flow of exports at Argentina’s Rosario port hub. Abiove hikes Brazilian soybean export forecast
Corn ratings finally stabilized, but condition ratings for soybeans and wheat continue to decline. Meanwhile, labor shortages and rising input costs have dampened farmer optimism.
Proposition 12 imposes what opponents claim is arbitrary animal housing standards that reach far outside of California's borders to farms across the country, and bans the sale of pork that does not meet those standards.
The Supreme Court in favor of refiners regarding SREs. USDA boosts its food price inflation forecasts. Meanwhile, its monthly Cattle on Feed Report was generally in line with expectations.
Rains have fallen in the eastern Corn Belt, but areas of the western Belt still drying out. A bipartisan group of lawmakers have reached a tell with Biden on infrastructure. And find coverage of USDA's latest H&P Report.