The Supreme Court in favor of refiners regarding SREs. USDA boosts its food price inflation forecasts. Meanwhile, its monthly Cattle on Feed Report was generally in line with expectations.
Ahead of the Open | July 2, 2021
Soybean futures seen higher, grains mixed, all eyes on weather ahead of holiday weekend.
Find expectations for tomorrow's Cattle on Feed Report.
Rains have fallen in the eastern Corn Belt, but areas of the western Belt still drying out. A bipartisan group of lawmakers have reached a tell with Biden on infrastructure. And find coverage of USDA's latest H&P Report.
Disaster for U.S. spring wheat crop | Brazil corn crop hits another snag | Paraguay corn hit
Corn ratings finally stabilized, but condition ratings for soybeans and wheat continue to decline. Meanwhile, labor shortages and rising input costs have dampened farmer optimism.
Barge rates signal big grain shipments. Today's Cattle on Feed and Cattle Inventory reports were supportive.
The corn and soybean CCI ratings were little changed over the past week, but the spring wheat crop continues to deteriorate.