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EU and U.S. are working on global oil price caps, Governor Newsom threatens Californians with water restrictions and beef stocks in April rose to a record...

Corn futures lower after USDA reports big increase in U.S. planting; wheat firm on weather concern.

Biden officials try to sell Indo/Pacific framework to a not-so-convinced U.S. public

Spring wheat futures led gains in the wheat markets overnight as planting progress fell shy of expectations. Soybeans firmed, while corn traded slightly lower overnight.

The HRW crop is still well below its five-year average, while the SRW crop is now rated above normal.

Wheat futures jump in corrective bounce from last week’s slide; corn firmer though USDA reports big jump in plantings.

Beef stocks declined less than normal in April, while frozen pork inventories climbed more than average. Total red meat and poultry stocks rose around 16% from last year.

Corn export inspections topped the upper end of trade expectations at nearly 1.7 MMT.

Wheat futures are higher as corn and soybean futures retreat from overnight gains. Cattle futures are lower as hog futures extend last week’s rebound...