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USDA raised its 2023 beef production forecast based on “recent slaughter data and larger-than-previously forecast first-half placements.”

After the Bell | May 12, 2023

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Winter wheat production and new-crop wheat ending stocks both came in well shy of pre-report expectations.

USDA’s May crop data was mostly bearish, though wheat production and ending stock estimates were notably shy of pre-report estimates, giving the wheat complex momentum to climb higher.

Another California law could have major implications for hog producers, consumers

SCOTUS upholds animal-welfare law approved by California’s voters in 2018

Calif. Prop 12 update | Rail safety bill | Refilling SPR | U.S./China officials talk | CRP

Wheat futures are expected to open solidly higher, with corn and soybeans likely to be mixed with a firmer tone. Pre-report positioning will be featured this morning ahead of USDA’s May crop reports.