Tight Stocks, Surging Crude, Weak Dollar - Why Can't Corn Rally???

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.0:00 Friendly Corn Numbers (USDA)4:12 Crude SURGES6:19 US Dollar is Weak9:25 US Drought / Weather14:46 Biofuel News / RVOs16:49 Export Sales18:40 ICE and Ag📊 USDA Report, Soaring Oil Prices, & Dollar Dive! | Market Recap 🌽🛢️💵Welcome back! In today’s update, we’re breaking down a packed Thursday full of market-moving headlines 👇🌽 USDA Report RecapNo shocks here! USDA raised old crop corn exports 📈 and trimmed carryout, while leaving soybeans unchanged. Wheat exports saw a bump too. Despite the friendly tone, corn couldn’t catch a bid. Traders seem laser-focused on crop weather now! 🌦️🛢️ Crude Oil Surges 🚨WTI crude spiked nearly 12% overnight after Israel launched major strikes on Iran, hitting nuclear and military targets. Iran confirmed damage at Natanz. With tensions in the Strait of Hormuz boiling over, global oil markets are on edge. ⚠️💵 US Dollar Hits 3-Year LowThe dollar dropped to its weakest level since April 2022! The euro and pound surged as inflation and jobless data added pressure on the Fed to cut rates at its June 18 meeting. 📉🌾 Drought Monitor HighlightsCorn Belt weather was a mixed bag. Some areas improved, others worsened. Currently:→ Corn in drought: 18%→ Soybeans: 13%→ Wheat: up to 20%→ Cattle: 20% 🐄🧪 Biofuel Mandates IncomingThe EPA will announce 2026–27 blending targets today. Industry groups want to raise biomass-based diesel to 5.25B gallons, but the final target may fall short. Ethanol and biodiesel markets are watching closely. ⛽📉 Disappointing Export SalesCorn, soybean, and wheat export sales all fell short. Soybeans hit a marketing-year low. 📦 Weak demand continues to weigh on prices.👷‍♂️ Immigration Crackdown Hits AgAn ICE raid in Nebraska led to over 70 detentions at a meat plant. Labor shortages are growing in ag-heavy states like California too. Over half of US crop workers are undocumented. 🌱👉 Don’t forget to like, subscribe, and drop a comment with your market take!