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Impact: Could affect hundreds of Jan. 6 prosecutions | Trump Case: Impact unclear, Special Counsel says charges likely unaffected | DOJ Response: Limited impact, most of 1,400+ Jan. 6 defendants unaffected
Corn plantings and June 1 stocks topped expectations.
USDA raised its estimate for corn acreage by nearly 1.5 million from the end of March, while soybean acres were lowered 400,000. Meanwhile, corn, soybean and wheat June 1 stocks were each above pre-report estimates.
Decision expected to shift more interpretive power to the courts
Key Fed measure shows inflation rose 2.6% in May from a year ago, as expected
Soybeans and wheat saw modest corrective gains overnight while corn languished near unchanged. Price action ahead of today’s reports are likely to be driven by positioning.