Since last year, China has been importing record volumes of U.S. corn due to a supply shortage and record domestic prices. But U.S. shipments to the Asian country have been slightly disappointing in recent weeks.
U.S. corn futures edged higher in actively traded nearby contracts on Tuesday on strong export demand after the U.S. Department of Agriculture confirmed the largest sales to China since January.
Pilgrim’s Pride Corp pleaded guilty and was sentenced to pay a $107.9 million fine on Tuesday to settle federal charges it conspired to fix chicken prices and passed on the costs to consumers and other purchasers.
U.S. corn and soybean futures retreated on Thursday after the Department of Agriculture (USDA) projected that U.S. farmers would devote more acres to the two crops this spring than any year on record.
CME Group on Wednesday reported quarterly earnings that beat Wall Street expectations, but revenue declined as the COVID-19 pandemic and its economic fallout hurt demand for some of its top products.
U.S. President Joe Biden’s pick to lead the EPA said on Wednesday he will consult with general counsel to understand the options available for a program that exempts small refiners from biofuel blending obligations.
The U.S. oil industry is seeking to forge an alliance with the nation’s corn growers and biofuel producers to lobby against the Biden administration’s push for electric vehicles.
