Wednesday, April 21, 2021 5:34PM CDT
Ahead of President Joe Biden's climate summit, Agriculture Secretary Tom Vilsack announced multiple climate-related programs. A key for farmers and landowners, USDA is boosting rental rates and incentives for landowners to sign up for the Conservation Reserve Program.
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.