Here's your mid-morning update on grain, soy and livestock futures action.

Biden and Putin agree on Iran's nuclear aspirations, limits expand for lean hog contracts as the cash market surges and Grassley looks forward to Ag Committee hearings on cattle industry woes...

Did Vilsack signal RFS change via interview with AgriTalk?

Ahead of the Open | June 17, 2021 Soybean futures extend slump to seven-week lows on Midwest weather, corn, wheat also down.

Export sales of corn were light, as expected, but old-crop sales did manage to stay in positive territory. Wheat sales were also near the lower end of expectations. Total soybean sales fell short of 72,000 MT.

Hot, stormy weather is expected for the Midwest, pressuring grain and soy futures. A bipartisan infrastructure plan gains support. And Biden and Putin agree to disagree at their summit yesterday.

Boxed beef, pork cutout values rolling over.

After the Bell | June 16, 2021 Crop-friendly weather outlook sends soybean futures to seven-week lows, hogs down daily limit.

The Fed cited an improving economy and dropped its longstanding reference that the Covid-19 pandemic was weighing on the economy.

Fed moves timeline on higher interest rates to 2023. Vilsack signals major changes are coming for the livestock industry.