Wednesday, June 19, 2013 3:28PM CDT
The House Rules Committee agreed late in the night to floor debate on 103 amendments to the farm bill. Some of the proposals would dramatically shift costs for crop insurance, alter farm programs for dairy and sugar farmers, and lower the amount of corn-based ethanol required under the Renewable Fuels Standard.
Corn futures are lower, soybeans lower and wheat lower at 6 a.m. CDT.
Live and feeder contracts should start out moderately lower, pressured by profit taking and pre-cash positioning. Look for the lean hog pit to open with mixed price action tied to spillover buying and profit taking.