• Tyson Foods has launched a free education program for all of its US team members. Beginning this summer, Tyson employees will have the ability to attain master's, undergraduate and associate degrees, career certificates and literacy and technology fundamentals for free. Tyson is partnering with social impact company Guild to expand its existing Upward Academy program to include access to more than 175 programs from 35 of the nations top universities and learning providers. The 4-year, $60 million investment will cover 100% of all tuition, books, and fees for team members. The initiative expands Upward Academy, an on-line adult education program, that is currently offered at 46 Tyson locations.
  

• Total pork stocks in cold storage at the end of March were pegged at 487.2 million pounds, up 8% from last year. Pork belly stocks were reported at 56.8 million pounds, an increase of 21.4 million pounds. Total beef stocks were estimated at 536.9 million pounds, up 11% on the year. Total chicken stocks increased 5% to 777.5 million pounds.
  

• Tom Kadlec, president of ADM Investor Services, announced his retirement from the company effective July 1^st. He will be replaced by John Stott, who is currently Group Vice President, Finance, Corporate Treasurer, and CEO of Global Technology. Stott started out with Continental Grain Company in London, and then joined ADM in 1992 where he has held numerous leadership positions in accounting and finance.
  

• On the April USDA Cattle On Feed report, there were 12.105 million head reported to be on feed, a record-large number for this time period. Of those, 4.565 million head were heifers, which was a 75,000 head increase over last year. This meant that 37.7% of the cattle on feed were heifers. When the heifer percentage runs above 36%, historically it means the cattle industry is in liquidation. In addition, higher beef cow slaughter has pushed non-fed slaughter in the first quarter to its highest level in decades. Beef cow slaughter in the January-March quarter was 959,000 head, 17% higher than a year ago. The larger cow kill means this year's calf crop will be smaller again, as will the 2023 calf crop due to the large number of heifers on feed.

Grains

• The CME Group announced new daily trading limits that went into effect this past Monday. Corn futures daily limits will expand to 50 cents from 35 cents. Soybean daily limits will increase to $1.15 from $.90. Both Chicago and KC wheat limits will decrease to 70 cents from the current limit of 85 cents. These price limits will be in effect until the first trading day of November.
  

• Stats Canada released their prospective acreage report on April 26^th. Total wheat acreage in Canada is projected to increase 1.67 million acres to 25.031 million. Canola acreage is projected at 20.897 million acres, down 1.58 million acres from a year ago.
  

• Bunge and CoverCress, Inc. announced a commercial partnership to bring a new renewable oilseed and animal feed crop to market. Through sophisticated breeding and gene editing, CoverCress has converted field pennycress, a winter annual weed, into the CoverCress crop that fits into existing corn and soybean rotations. CCI claims field pennycress is ideal as a lower carbon intensity feedstock to help meet the growing demand for renewable fuels. Under the commercial partnership, CCI will supply CoverCress grain produced under contract to Bunge for processing.
  

• Corn planting progress has been slow to start the season. Through May 1^st, USDA reported that 14% of the corn crop was in the ground compared to an average of 33%. Kansas was 35% planted which is close to normal. Nebraska was at 28% versus the average of 34%. The other major production states were way behind through - Iowa - 9%; Illinois - 7%: Indiana - 6%; and Minnesota - 0% (not a typo!).
  

• USDA said 8% of the soybeans had been planted as of May 1^st compared to the 13% average. Kansas was 11% planted, which is ahead of normal. Nebraska was also ahead at 19% planted. The Delta states were either at or ahead of schedule. But, the major Corn Belt production states were very slow so far - Iowa - 4%; Illinois - 5%; Indiana - 3%; and Minnesota - 0%. Weather models indicate a more favorable window for planting into the third week of May.