Grain markets finished the day mixed on Tuesday. Spring wheat led all other wheats and corn slightly higher while the soy complex was under pressure as the industry awaits an EPA announcement on the RFS. Various media is reporting that the EPA is set to release updated RFS volumes, a rejection of small refinery exemptions and $700 million in USDA aid to the biofuel sector on Tuesday. There are some reported numbers out there but as of 2:00pm CST on Tuesday we are still working to confirm those numbers.
Outside markets are having a banner day as the Omicron variant is viewed as highly transmissible while perhaps producing a milder effect than past variants, but studies are pending. Livestock was mixed to lower as there was little action in cattle while hogs had another day under pressure as the cash market shows more weakness.
We discuss it all with Jim McCormick of AgMarket.net on today’s show! Learn more at www.agmarket.net.