USDA again surprises industry analysts with lower-than-expected plantings
Corn and beans rallying on bullish acreage data. Monthly soy and corn processing reports out today. TPA expires with little fanfare and the U.S. and Taiwan restarted trade talks.
Climate change linkage proposal: At least $200 billion more for conservation spending
Corn struggled to rebound overnight. Meanwhile, another strike is underway in Argentina and China took more steps to tighten its control on commodities.
FOMC minutes note increase in inflation, but attribute rise to transitory factors. Strike by contract workers interrupting flow of exports at Argentina’s Rosario port hub. Abiove hikes Brazilian soybean export forecast
Grain and soy futures are rising ahead of long holiday weekend. The focal point today is the June jobs report. Meanwhile, a USDA attaché expects Chinese imports of corn to slow notably in 2021-22.
Social Security benefits COLA likely to be largest in decade | Billions paid in child tax credits
Midmorning update on commodity market action.