Soybean futures stumbled out of the gate to begin the week after details of an agreement between the U.S. and China to cut tariffs on a range of goods left the legume off the list. Concerns about the pace of China purchases following the Trump-Xi summit also remain a concern. Corn suffered a midweek rout after quarterly USDA Grain Stocks data delivered a bearish surprise. Wheat futures saw pressure as planting weather improved in the Plains, though Black Sea bottlenecks continue to stoke supply concerns. Cattle futures firmed as slaughter rebounded after last week’s ICE raids curtailed activity in the southern Plains. Hog futures fell to contract lows on continued technical selling and persistent weakness in cash fundamentals. We cover all of this and more in this week’s newsletter.
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(ProFarmer)