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Illinois crop ratings have dropped like a rock with only 33% of soybeans and 36% of corn rated good to excellent in this week’s USDA crop progress report.

Under the bill, the USDA and the FDA would become members of CFIUS and their powers would be expanded to better consider ag needs when it decides if a purchase would create national security risks.

Grains rally on weather, drop in ratings, subsoil moisture, fund buying. How much upside is left? Cattle consolidate w/ corn up. Profit taking in hogs w/higher meal. Tomm Pfitzenmaier, Summit Commodity Brokerage.

A bull-blown weather market is playing out in the soybean and corn futures markets, which propelled soybeans and meal today.

Many Midwest farmers are seeing their corn crop struggle from compaction, nutrient deficiencies and herbicide carryover. Some of these issues can be addressed yet this season.

EPA’s 479-page RFS ruling can be difficult to sift through and interpret. Jim Wiesemeyer breaks down the heavy-hitting components that will impact producers.

Grains put in weather premium, with the drop in crop ratings and fund buying. Cattle continue to consolidate with higher corn, lower cash. Hogs see profit taking. Vince Boddicker, Farmers Trading.

Grains gap higher on drop in crop ratings, fund buying, only BO is lower on the EPA RFS proposal. Cattle consolidate with higher corn, lower cash, cutouts. Hogs see profit taking. Kent Beadle, Paradigm Futures.

EPA plans to increase the amount of biofuel blending volumes for 2023 versus its proposed levels, but plans to reduce volumes in 2024 and 2025.