Julianne Johnston

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On Feed and Placements seen below year-ago, while Marketings up from year-ago.
Traders did a good job of anticipating the report.
All categories expected below year-ago levels.
Some improvement to the lower Midwest.
Above-normal temps expected across the bulk of the country on average the remainder of the year.
Wide range of pre-report guesses for On Feed and Placements.
On Feed expected up slightly from year-ago.
Wheat sales within expectations.
Petition asks EPA for one-year waiver of ethanol production mandate.
Rule was considered a serious overreach of EPA’s authority.