Agriculture News
Corn, soybeans and wheat traded on both sides of unchanged overnight but are higher and near their session highs this morning, despite the escalating U.S./China tariffs war.
U.S. reciprocal tariffs kicked in at midnight; China retaliated early this morning.
How USDA handles usage forecasts in the face of the trade/tariffs turmoil adds some uncertainty to what’s normally a uneventful report.
China vows to ‘fight to the end’ in tariffs battle.
Only Montana, Indiana and North Carolina showed improvement since last fall.
Weekly wheat inspections led the decline, dropping 166,621 MT during the week ended April 4, followed by corn (down 64,079 MT) and soybeans (down 8,799 MT).
Soybeans, livestock and equities markets hit hardest by trade concerns.
Seller interest is limited for grains and oilseeds with wheat futures working slightly higher. Livestock markets are lower with markets subject to expanded trading limits today...
Price trends for many ag and outside markets are now bearish.
Corn futures favored the downside overnight, while soybeans have firmed this morning and wheat is narrowly mixed.
