News
Wheat led weakness overnight as July futures nearly tagged the contract low, while corn and soybeans followed to the downside.
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.