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 higher, soybeans higher, and wheat lower at 6 a.m. CDT.
Look for live and feeder contracts to start out moderately lower this morning, pressured by Friday's confirmation of larger than expected April placement activity. On the other hand, lean hog futures seem ready to open on a mixed basis thanks to a combination of residual selling interest and positive fundamentals.