The Environmental Protection Agency (EPA) proposed record blending mandates for biomass based diesel in the Renewable Fuels Standard.

Soybeans were up sharply on Friday with soybean oil locked limit up on all of the contracts. Alan Brugler, A&N Economics, says it was in reaction to the EPA’s proposed Renewable Volume Obligations, which were especially bullish for biomass based diesel.

Scott Varilek, Kooima Kooima Varilek, says cattle are seeing risk off selling tied to the news overnight of escalating war between Iran and Israel which has the financial markets sharply lower. Bean oil is limit up on news of higher blending levels for biomass based diesel.

Dave Chatterton of Strategic Farm Marketing says corn was slightly higher with tighter ending stocks, while soybeans fell on the rumor of lower RVO levels.

USDA lowered old crop corn ending stocks 50 million bushels, but Brian Splitt, AgMarket.Net, says the market doesn’t feel like it’s trading a 1.365 billion bushel carryout nor do the July/December spreads.

Caleb Ragland is hopeful his boys will have the opportunity to be the 10^th generation to carry on the family’s farming roots, but he’s concerned the fallout from trade disruptions, high input costs and low commodity prices could deliver a death blow to that dream.

Craig Turner with StoneX says the markets were initially charged by news the U.S. and China had reached a trade framework. However, the deal was lacking in detail just like so many of the trade deals touted by the administration.

Kent Beadle with Paradigm Futures says the grain market is getting some support from news a framework has been worked out between the U.S. and China to at least call a truce on tariffs and remove restrictions on rare earth mineral imports.

Chip Nellinger, Blue Reef Agri-Marketing says the corn market saw a technical bounce and even some bull spreading on Tuesday, but most of it was tied to short covering. While cattle reacted to ICE raids at Omaha, NE meat plants.

Vince Boddicker, Farmers Trading Company, says old crop corn made another new low for the move overnight with national crop ratings improving by 3% to 71% good to excellent. The corn complex continues to face headwinds from weather, with no major threats on the horizon.