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Indonesia will increase palm oil in bio-diesel, Biden will discuss China tariffs with advisers and the U.N. reports Global food price decline...
Wheat futures climb to highs for week; corn, soybeans expected firmer on Midwest dryness.
Wheat futures jump sharply to lead grains, soy complex higher as markets continue corrective bounce from recent slump.
Payrolls increased 372,000 in June, more than expected | Biden to head China tariff meeting
Corn and wheat futures built on Thursday’s strong corrective gains during overnight trade. Soybeans traded higher initially but failed to sustain the firmer tone.
Cash prices for corn, soybeans and wheat plunged over the past week.
USDA estimates the drought footprint at 29% for corn (up six points from last week), 22% for soybeans (up seven points), 19% for spring wheat (unchanged) and 68% for cotton (up seven points).
Shanghai citizens subject to mass COVID testing, copper falls to lowest price since late 2020 and the Treasury Department investigates insurer’s exposure to climate risk...