An active weather pattern continued to bring rains to most major U.S. crop areas, creating generally favorable conditions for summer crops. The extreme heat this weekend and early next week will cause crop stress, especially in the driest areas, but is expected to be temporary. The extended forecast suggests above-normal temps and varied precip are likely through September. The greatest area of risk for dryness through the growing season is Nebraska, along with portions of southern South Dakota and far northern Kansas. The conflict between Israel and Iraq escalated, causing shipping rates in the Middle East to soar. While that won’t impact grain movement much, there are risks for diesel and fertilizer if the situation continues to escalate. Our News page 4 feature breaks down EPA’s biofuels mandates for 2026 and 2027, which were especially friendly for soyoil. The Supreme Court delivered another win for the biofuels sector by ruling all legal challenges to small refinery exemptions under the renewable fuel standard should be heard by the U.S. Court of Appeals for the D.C. Circuit. The Fed remained in pause mode, as widely expected, but new economic projections painted a slightly stagflationary outlook. We cover all of these items and much more in this week’s newsletter, which you can download here.
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