PRO FARMER
Corn futures traded mixed as traders evened up positions before tomorrow’s USDA reports. March futures edged up 1 1/4 cents to $6.01.
With the Biden administration eyeing a rewrite of the “Product of the USA” label, Sen. Roger Marshall (R-Kan.) introduced the Bona Fide Beef Branding Act of 2022 . . .
Unfavorable weather continues to reduce production potential in South America, with Argentina and southern Brazil facing hot and dry conditions, while areas of central and northeastern Brazil are too wet.
USDA’s January crop reports tend to swiftly move markets since there’s so much data.
The Supreme Court rejected appeal by Growth Energy to reinstate an EPA rule that would have permitted year-round sales of fuel containing as much as 15% ethanol.
Cargo vessels can load more corn and soybeans and reduce shipping costs due to dredging progress on the lower Mississippi River, according to the Soybean Transportation Coalition.
Consumers are willing to pay more for retail meat and most food service meat, according to the monthly Kansas State University Meat Demand Monitor.
The fourth increase over the past month by the exchange was due to higher-than-expected yields as farmers wrap up harvest.
Drier and hotter weather is predicted for southern Brazil, Paraguay and Argentina, according to World Weather Inc.
Brazil-based consultancy AgRural slashed its Brazilian soybean crop estimate by 11.3 MMT to 133.4 MMT due to heat and drought in southern Brazil.