News
Soybean and wheat futures are off to a strong start with corn futures mixed. Cattle futures are choppy to mostly lower with lean hogs are higher on support from the cash market...
May placements increased 86,000 head from last year.
The drop in beef stocks was rather normal; pork inventories fell much more than average.
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In week ended June 15, weekly corn sales totaled a tepid 36,000 MT, an 87% drop from the previous week and 74% from the four-week avg. Soybean export sales fell 4% on the week, but were up 98% from the four-week avg.
Farm-state lawmakers begin maneuvering for new farm bill funding, provisions
Corn and soybeans will face heavy pressure from improved rainfall chances, while wheat is expected to actively follow to the downside.
Corn and soybean futures faced active followthrough selling amid forecasts calling for improved rain chances for the Corn Belt. Wheat futures actively followed to the downside.
A possible shift of nearly $20 billion from climate and tax credit law