"Biofuel Foes" Try to Kill RVOs + Soybeans REJECT Fresh Highs

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.🌽 Lawmakers are pushing to overturn the EPA's biofuel blending mandates for 2026 and 2027 using the Congressional Review Act. The effort is considered a long shot and is unlikely to gain traction.🫘 Soybean futures fell Wednesday as soybean oil volatility and fading rumors of Chinese buying weighed on the market. Corn edged higher on strong export demand and favorable rainfall forecasts across the Corn Belt.🌾 Wheat futures turned lower after two days of gains as expected rainfall in drought-affected areas pressured prices. Cotton pulled back after hitting a near two-year high, with crude oil prices and widespread drought keeping the longer-term outlook supportive.💊 The USDA is actively working to address surging fertilizer costs, with Agriculture Secretary Brooke Rollins in daily contact with the White House. Russia extended its fertilizer export quotas through year-end amid global supply tightness tied to the Iran war.⛽ US ethanol production dipped 7% week-over-week but remains above year-ago levels, with margins staying healthy across the Corn Belt. Ethanol stocks rose to 26.95 million barrels.📦 USDA reported a third consecutive flash sale of corn this week, with 130,000 metric tons sold to unknown destinations. The weekly total now stands at 425,000 metric tons, or 17 million bushels.