Following is the latest Palmer Drought Index:
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Palmer Drought: Deficits Widen in Southern Missouri, Northern Iowa
Up to 15 inches of precip needed in north central Iowa to reverse drought.
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The row crop and cotton markets saw some early support Thursday from a rally in crude oil as doubts about the peace deal with Iran came into question.
Grains markets were mostly higher Thursday morning except hard red winter wheat following a bounce in crude oil says Mike Minor with Professional Ag Marketing.
Corn and wheat futures saw more fund selling and long liquidation end of month but it was triggered by war headlines. Chuck Shelby with Zaner Ag Hedge says those markets continue to remove risk premium.
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The change implements provisions in the One Big Beautiful Bill Act and updates long-standing Farm Service Agency rules that had capped many entity-based operations at a single payment limit.
