China continues to shift its ag buying power, signing a letter of intent to purchase $900 million in agricultural products from Argentina—another signal it’s moving further from U.S. suppliers. Still, in a move to ease ongoing tensions, China temporarily suspended export controls on 28 U.S. entities for 90 days starting today.
Soybean oil got a bump on rumors out of Washington. Word is that Congress may include an extension of the 45Z tax credit through 2031, with language barring the use of foreign feedstocks in biofuel production.
In Kansas, Day 1 of the Wheat Quality Council tour wrapped with scouts sampling 196 fields between Manhattan and Colby. The yield estimate averaged 50.5 bushels per acre.
Cattle futures peaked at midday before selling off hard into the close, as the market continues to wait on a cash trade to develop across the country.
Sue Martin with Ag & Investment breaks down todays Market Wrap Up
