Nancy Pelosi is to step down as leader of the Democratic Party in the House, a position she has held since 2003. House Majority Leader Steny Hoyer says he will remain in Congress but won’t seek a leadership position.
Mexico made its largest single day purchase of U.S. corn this week buying 73.5 million bushels. Market analyst Joe Vaclavik with Standard Grain says his sources tell him the GMO ban is politically motivated and Mexico is using it for trade leverage.
The Black Sea Grain Initiative has been extended without any changes for 120 days. The deal is bearish for U.S. corn and wheat exports, which are already lagging.
