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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.

Corrective buying supported corn, soybean and wheat futures ahead of USDA’s May crop reports later this morning.

The Federal Reserve Bank of Kansas City reports a 10% annual boost in farmland values.