As President Trump’s trade deal deadline came and went, increased tariffs took hold, with India and Brazil receiving the brunt of heightened levies. StoneX Group released production estimates indicating record corn and bean crops, and by a wide margin. Corn, soybeans and wheat largely traded hand in hand last week, seeing rallies mid-week and facing technical resistance to end the week. Trade is likely to be quiet ahead of next week’s Crop Production and WASDE reports from USDA. Cattle futures continued to break record high after record high amid persistent tightness in the cash market. Hogs saw choppy price action as waning cash fundamentals were met with spillover strength from the cash cattle market. We cover all of these items and much more in this week’s newsletter.
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