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That said, sales of most commodities were in line with expectations and the only net sales reduction was for soyoil.

Another slowdown in crush expected for June, with export sales also out today. Low water levels on Argentina’s Parana River still causing headaches. Chinese pork production hits seven-year high in Q2

Cash hog, pork cutout prices firmed over the past week.

Hot, dry forecasts for August bolstered grain and soy futures.

The U.S. economy displayed “moderate to robust growth” from late May to early July, according to today’s Beige Book released by the Federal Reserve.

Powell testifies | EU unveils climate change plan | Debt limit | Inflation accelerates

Grain and soy complex futures finished higher near session highs overnight, which should spark followthrough buying today.

Storms expected to roll across the Midwest from today forward. China’s summer wheat crop up from 2020, but quality is a concern. Biden to meet with Senate Democrats about their $3.5-tril. budget reconciliation plan.