🚨 Just in: Biden proposes for a 44.6% top capital gains tax rate, the highest capital gains tax since its creation in 1922

DEFENCE OFFICIAL TELLING NEWS: ISRAELI MILITARY POISED TO LAUNCH RAFAH OPERATION IMMEDIATELY, AWAITS GOVERNMENT APPROVAL.

SovEcon: Russian #wheat exports are estimated at record-high 4.8 mmt in March and 4.6 mmt in April. Looking at line-ups, outstanding sales, and the new crop spread, we expect to see a substantial slowdown during the next two months. More in the trade and S&D note:

Brussels has raided the offices of a🇨🇳Chinese security equipment supplier, deploying new anti-foreign subsidy powers in a move that will further inflame tensions between the trading superpowers. ft.com/content/4aa9b1…

📌 #Ukraine exported almost 40 mln tons of #grain As of April 24, in 2023/2024 MY Ukraine exported 39 914 000 tons of grains and pulses. Read more 👉 uac.world/7HNaTT #UkrAgroConsult #Agriculture

Is SRW #Wheat fundamentally bullish? Let's count the reasons why not: 1) National Average Cash Price 2) Base and 3) Futures Spreads I talk about all this in my latest piece for Barchart and Barchart Agriculture barchart.com/story/news/257…

#Ukraine. Sowing rate is higher y/y. #Soybeans new favorite of farmers. Bright forecast of 2024 SFS harvest. #Rapeseed crushing remains high in 24/25. Stable demand for wheat corn. April exports are higher m/m so far. Wheat export destinations changed in 2024 @sergeyfeofilov

Ethanol production during the week ended April 19 averaged 954,000 barrels per day (bpd), down 29,000 bpd (3.0%) from the previous week and 1.3% below year-ago. Ethanol stocks dropped 347,000 barrels to 25.733 million barrels.

#Economist says #beef cow #slaughter data crucial without July #inventory report brownfieldagnews.com/news/economist…

YES - funds are "too short" corn & beans 𝐓𝐡𝐚𝐭 𝐬𝐚𝐢𝐝, 𝐭𝐡𝐞 𝐑𝐄𝐀𝐋 𝐨𝐮𝐭𝐥𝐢𝐞𝐫 𝐢𝐬 𝐭𝐡𝐞 𝐅𝐀𝐑𝐌𝐄𝐑 𝐋𝐎𝐍𝐆 𝐭𝐡𝐚𝐭 𝐢𝐬 𝐚𝐭 𝐥𝐞𝐚𝐬𝐭 𝟑𝐱 𝐥𝐚𝐫𝐠𝐞𝐫 𝐭𝐡𝐚𝐧 𝐭𝐡𝐞 𝐜𝐮𝐫𝐫𝐞𝐧𝐭 𝐜𝐨𝐦𝐛𝐢𝐧𝐞𝐝 𝐟𝐮𝐧𝐝 𝐬𝐡𝐨𝐫𝐭 𝐢𝐧 𝐜𝐨𝐫𝐧 𝐚𝐧𝐝 𝐬𝐨𝐲𝐛𝐞𝐚𝐧𝐬

NMME modeling brings us to these likely conditions by end of Summer. August/Sept/Oct long range but question is how do we get here? How much tropical action to save the day?

Live view of risk managers responding to the price of Wheat 🌾

Iowa/S. Minnesota weekly #hog weights for week ending April 20 has weights at 287.0 pounds, down from 288.0 pounds last week but heavier than last year’s 286.9 pounds. #oatt

#Crude Oil Inventories: -6.368M (est +2.000M; prev +2.735M) #oatt

JUST IN: 🇺🇸 Department of Transportation announces new rule for all airlines requiring automatic cash refunds if flights are canceled, delayed, or if luggage is lost.

NMME has Rockies WY to Old Mexico odds favoring Summer abnormal drying (heat too) but what about KS to WI? IOWA model has moderate odds of abnormal dryness J-J-A as well as across KS to SC Canada. Ohio Valley-much of East/Southeast odds favor Wet! N Plains too? Stay tuned!

Johnson Co. #Nebraska making great progress on spraying and #corn #plant24 this week

US 5-YEAR NOTE HIGH YIELD ACTUAL 4.659% (FORECAST -, PREVIOUS 4.235%) $MACRO

South Dakota

Plenty of warming. Just what was needed.