Thursday, April 22, 2021 5:49PM CDT
President Joe Biden's pledge, released on Earth Day, to cut U.S. emissions in half includes the potential of accelerating biofuels use in aviation fuel. The goal of paying more farmers for climate-smart practices got a boost with a voice vote in the Senate Agriculture Committee, which advanced the Growing Climate Solutions Act.
July corn is up 6 3/4 cents, July soybeans are up 20 cents and July KC wheat is up 8 cents.
Cattle futures are not expected to show much upside potential prior to the Cattle on Feed report. Even if some numbers would be friendly to the market, the overriding influence will be increasing grain prices due to an uncertain growing season. Packers remain aggressive and fearful of tightening supplies, but prices cannot move higher indefinitely without impacting demand.