PRO FARMER
The winter wheat futures markets were again pulled down by another solid drop in corn futures prices. Weekly U.S. wheat sales were also disappointing.
Mexico has been a key beneficiary of reworking the global supply chains that has seen companies find ways to be closer to the U.S. economy.
The flush in the grain and soybean complex futures markets continued at mid-week, with weak long liquidation featured amid weather forecasts that have added better precipitation chances for the Midwest.
Former U.S. Trade Representative Robert Lighthizer released his book, No Trade is Free. Some nuggets:
In July, USDA will accept applications for $450 million in Higher Blends Infrastructure Incentive Program (HBIIP) grants to further support biofuel-related infrastructure.
Soybean futures saw gains today, especially in old crop futures as bulls reversed losses from late last week.
Next Friday’s acreage and Quarterly stocks reports are known as severe market catalysts that can change the trend of a market.
EPA assumes there will be rising production of sustainable aviation fuel (SAF), but that will cut into renewable diesel production.
Wheat market bulls fared pretty well today given the solid losses scored in the corn and soybean futures markets.
A flood of Brazilian soybean cargoes into China is weighing on soymeal purchases and may curb buying of beans later in the year, traders and analysts told Reuters.