Friday, June 21, 2019 2:27PM CDT
Under pressure from farm groups and Congress, USDA's Risk Management Agency on Thursday announced it has changed the haying and grazing restrictions on prevented planting acres. The change allows farmers who plant cover crops on prevented planting acres to hay, graze or chop those fields on Sept. 1, rather than the traditional restriction date of Nov. 1.
July corn is up 3 1/2 cents, July soybeans are up 6 1/2 cents, and September K.C. wheat is up 4 3/4 cents.
Follow-through pressure is expected early on Monday after triple-digit losses in cattle and hog futures Friday. Limited early volume may allow for short-covering, but the general tone of the market is expected to be weak.