Monday, May 20, 2013 2:34PM CDT
The U.S. Ninth Circuit Court of Appeals last week ruled in favor of Monsanto in a lawsuit filed by environmental groups and others that said Roundup Ready alfalfa was harming endangered species and causing spread of noxious weeds.
Monday, May 20, 2013 11:32AM CDT
Despite complaints from Canada and Mexico, USDA has moved ahead with attempts to rewrite its rule following a trade case in the WTO against the U.S. that concluded USDA's original label discriminated against livestock from other countries. Canada has threatened to offer a list of U.S. products for retaliatory tariffs if the new rule goes into effect.
Corn futures are lower, soybeans unchanged, and wheat lower at 6 a.m. CDT.
Live and feeder cattle contracts are set to open significantly higher, supported by follow-through buying and impressive corn planting progress. Lean hog futures should start out on a firm basis tied to the growing premium of the cash market.