Argentina's port strike came to an early end. USDA hiked its ag export forecast, reminding of China's aggressive buys and the Phase 1 trade deal. USTR Tai talked with her Chinese counterpart yesterday.
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.
Analysts on the Pro Farmer Crop Tour say 2020 is different than the rest.
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.
The data signals USDA is likely too high with its soy crush forecast.
USDA nearing $7.4 billion in Biden admin.-issued pandemic aid
USDA again surprises industry analysts with lower-than-expected plantings
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.