Weather forecasts calling for rain in some of the region’s driest areas helped spark a steep sell-off across the grain and soy complex markets, with July corn hitting a contract low. A Trump administration proposal for new tariffs on China and others also appeared to weigh on the market, with Beijing yet to show interest in U.S. agricultural goods following last month’s summit meeting between President Donald Trump and Chinese President Xi Jinping. The wheat complex extended its slide as harvest approaches. It was a wild week for cattle, with feeders surging the daily limit Thursday after a steep fall as traders proceeded to “buy the fact” after confirmation of New World screwworm in Texas. Hog futures saw bouts of short covering but struggled to overcome technical pressure. We cover all of this and more in this week’s newsletter.
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(ProFarmer)