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.
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.
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.
Another forecast for an even bigger 2021-22 Brazilian bean crop. High degree of uncertainty about coming cattle placements number.
Given last year’s pandemic-related disruptions to the cattle herd, the data could receive more market attention than it typically does, with traders likely to take particular note of USDA’s calf crop estimate.
Corn condition ratings continued to slide, with spring wheat conditions posting another big drop.
Find highlights from today's weekly USDA Crop Progress and Condition Report.