Inspections for corn, soybeans and wheat were in line with expectations.
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.
Export inspections of corn, soybeans and wheat were all in line with expectations, with the corn tally holding above 1 MMT and wheat inspections nearing 500,000 MT. Soybean futures were light, as expected.
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.
The CCI ratings for the corn and soybean crops were nearly unchanged for the week.
Vilsack on trade policy: Avoid over-reliance on China; no deal with EU soon