News
Private analytics firm IHS Markit trimmed its 2021 U.S. corn planted acreage estimate by 310,000, dropping it to 96.54 million acres, which is still above most private forecasts.
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Ahead of the Open Wheat futures expected lower on N. Plains rainfall, corn, soybeans lower with all eyes on weather.
Delaware lawmakers are pressing EPA to ease refiners’ blending obligations. A bipartisan group of Senators delivered a new infrastructure proposal. And NCBA wants USDA to scrap “Product of the USA labels.”
After the Bell | June 10, 2021 Weather worries continue lifting corn, soybean futures, cattle modestly higher.
Conab now estimates Brazil’s total corn crop at 69.96 MMT. That compares to USDA at 98.5 MMT.
The Dakotas saw a mix of drought improvement and drought degradation, but today’s update didn’t fully account for this week’s rains.
So far, market reaction to the data has been fairly subdued.
Cotton and wheat carryover also came in lighter than expected.
Corn, soybean expected to climb on dry weather as trade awaits USDA data
Memorial Day coincided with the reporting period, which may have limited business to some degree.
More rain is coming for the Northern Plains. Weather will share the spotlight with USDA’s June S&D and Crop Production Reports. JBS announces it did pay $11 million in ransom.
After the Bell | June 9, 2021 Grain, soybean futures mostly lower, awaiting fresh USDA numbers.
Confirming ag sector fears, the EPA announced today it plans to roll back the Trump Administration’s Navigable Waters Protection Rule and revise the definition of U.S. waterways that can be regulated.
Grain futures seen lower as rains reach Northern Plains, trade awaits USDA.
Rains for the Northern Plains weigh on HRS wheat. Biden ended infrastructure talks with Capito, but is starting talks with others. Meanwhile, Vilsack says no decision has been made on swine line speeds.
After the Bell | June 8, 2021 Dry weather worries lift corn, soybean futures, cattle firmer, hogs mixed.
USDA will update its old- and new-crop balance sheets, along with global production and provide the second estimate of the U.S. winter wheat crop.
Grain and soy futures supported by weather, lower-than-expected crop condition ratings.