Grains were set up toward a slightly stronger start after three straight weeks down for corn and soybean futures. Markets trade a short week with Friday closed for Juneteenth. In the Headlines Deal or no deal was still the question regarding whether there would be a peace agreement signed by Iran as President Trump had indicated earlier in the weekend. Trump said that the deal would allow an immediate reopening of the Strait of Hormuz, but the Associated Press reported that “Iran’s foreign ministry spokesperson said no signing would occur Sunday.” The next Federal Reserve Bank meeting wraps up with a press conference on Wednesday this week. It will be the first meeting led by the new Trump-appointed chairman Kevin Warsh. Market odds favor the Fed funds rate staying unchanged at 3.75 percent this month before rising a quarter-point in December. A relatively strong labor market and high inflation constrain the central bank’s ability to fulfill President Trump’s wishes for lower interest rates that would relieve pressure on government finances. The Department of Energy on Friday released guidance on the GREET emissions scoring model that qualifies eligibility for the 45Z Clean Fuel Production Tax Credit. This update was called a…
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