News
Wheat led weakness overnight as July futures nearly tagged the contract low, while corn and soybeans followed to the downside.
Trend is now down for SRW wheat and soymeal.
Trump says ‘temporary pain is necessary to achieve greater economic health and independence.’
Conflicting remarks from U.S., China officials on trade talks despite signs of de-escalation.
U.S. is seeking trade deals with other countries.
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Cash grains posted little price movement over the past week.
Corn, soybeans and wheat each favored the upside in overnight trade though saw an increase in selling pressure in the latter portion of the session.
Corn, soybeans and wheat boosted by followthrough buying overnight.
Soybean futures broke out of the recent sideways consolidation range.
Soybeans continue to lead strength while corn saw corrective buying overnight.
Drought covers 33% of winter wheat, 26% of corn, 21% of soybeans and 49% of spring wheat.
China says there are no tariff negotiations with Washington
Corn rebounded from recent losses and wheat traded mostly lower overnight.
Corn basis remains well below average.
Uncertainty around trade policy was noted across all 12 districts, especially for agriculture.
White House nears tariff frameworks with Japan, India.
Soybeans saw relative strength overnight, building on Trump’s seeming change of attitude towards China.