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Corn grower groups sent a letter to Trump administration officials detailing the worsening economic situation caused by elevated prices for fertilizers and other inputs that are critical for growing corn.
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USDA’s June Crop Production and WASDE Reports are expected to show just modest changes from last month.
Improved wheat demand along with a slow start to harvest supports basis.
While this deal was completed, challenges remain with China.
Corn and wheat led strength overnight, while soybeans are challenging key technical resistance.
The more likely market-moving reports for June come at the end of the month.