TOP STORIES: 



  Wheat Hits 8-Month Low on Strong Crops, Better Weather 


  Wheat for July delivery fell 1.5% to $4.88 3/4 a bushel on the Chicago Board of Trade Wednesday, hitting its lowest level in over eight months on pressure from robust overseas production and good weather globally. Corn for July delivery rose 0.4% to $3.30 1/4 a bushel. Soybeans for July delivery rose 0.5% to $8.71 1/4 a bushel. 


  Wheat prices continued to tumble, sinking further below the $5-per-bushel mark. 


  "U.S. wheat is trading near a 4-week low on U.S. harvest pressure and recent upward revisions to Black Sea production estimates," said Terry Reilly of Futures International. Profit-taking among traders amid a stronger U.S. dollar is a factor keeping wheat futures down, he added. 


  Beyond Meat Up; Introducing Burger Value Packs, Credit Suisse Boosts Target Price 


  Beyond Meat Inc. shares rose 7.5% to $163.36 in morning trading. 


  The plant-based meat company said it is making Cookout Classic burger 10-packs available at a majority of Walmart and Target stores nationwide and select retailers across the U.S. beginning the week of June 22. 


  STORIES OF INTEREST: 


  Aunt Jemima and Uncle Ben's to Change Brands With Racist Histories -- 5th Update 


  The PepsiCo Inc. unit that sells Aunt Jemima products said it would retire the brand because of its origins in racist imagery of black people. Hours later, Mars Inc. said it would change its Uncle Ben's brand and Conagra Brands Inc. said it was reviewing its Mrs. Butterworth's bottle. 


  The owners of the supermarket staples, much like the owners of classic films like "Gone With the Wind" and popular police TV shows, are rethinking their products and marketing as the U.S. confronts racial disparities following the killing of George Floyd. More companies are commemorating Juneteenth, and Nascar has banned the Confederate battle flag at its events. 


  Conagra Says It Will Review Mrs. Butterworth's Brand As Companies Reassess Portfolios 


  Conagra Brands Inc. said it will consider potential changes to its Mrs. Butterworth's syrup brand, another example of how consumer-product and other companies are reassessing their product line-ups after the killing of George Floyd sparked protests over the treatment of black people across the country. 


  "We understand that our actions help play an important role in eliminating racial bias and as a result, we have begun a complete brand and packaging review on Mrs. Butterworth's," the Chicago-based food company said Wednesday. 


  Domino's CEO: Pandemic Proving Delivery Approach -- Market Talk 


  12:38 ET - Domino's CEO Ritch Allison says the pizza company's stance to do all its own delivery will help it keep some of the customers it gained during the pandemic through direct marketing. "At a time like this, when you bring in a lot of new customers, that's the most valuable aspect of the model," he says at an investor conference. Third-party delivery apps erase some of that customer connection, Allison says. The company is also now looking for real-estate opportunities in the US from retailers and restaurants that have closed as a result of the pandemic, he says. (heather.haddon@wsj.com; @heatherhaddon) 


  THE MARKETS: 


  Weights Pressure Livestock Futures -- Market Talk 


  15:21 ET - Livestock futures on the CME managed to find their way slightly higher after trading lower for most of the day. August live cattle futures finished trading up 0.1% to 96.85 cents a pound, while July lean hog futures finished trading unchanged at 49.65c. For most of the day, concerns about excess meat supply flowing through supply chains kept futures down. "One thing that is being noted as this takes place is the higher weights of animals being processed," AgriVisor's Karl Setzer says. "Hog weights are up an average of seven pounds per hog which is a generous amount. The same is being noted in cattle, where a 2% decrease in numbers of being negated by a 2% increase in weights." (kirk.maltais@wsj.com; @kirkmaltais)