Grains look to follow through on a firmer close from Friday, with war in the Middle East and bullishness over biofuel news being the top inputs. Upside may be limited by a favorable weather forecast. In the Headlines Back and forth missile attacks continue between Israel and Iran. Israel’s strikes against Iran’s nuclear assets rallied crude oil futures by nearly $5 on Friday. The U.S. government is taking a measured approach as President Trump urges Iran to accept a nuclear deal. Soybean oil futures were locked limit up for most of the Friday session in response to the government’s announcement of higher than expected renewable fuel volume obligations. A substantial increase of the biomass-based diesel fuel target contributed to the total biofuel blending requirement rising from 22.33 billion gallons this year to 24.02 billion gallons in 2026 and 24.46 billion gallons in 2027. The Federal Open Market Committee meeting will be held this week with the central bank making a decision on interest rates Wednesday afternoon. Market odds are showing an expectation for the fed funds rate to stay unchanged at 4.5 percent. The White House is reportedly scaling back on immigration raids for hotels, restaurants, farms, and meatpacking plants….
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