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As Trump’s tariffs are embroiled in a legal battle, talks with China ‘a bit stalled.’
Corn sales during the week ended May 22 dipped 23%, while soybean sales declined 53%. Meanwhile, new-crop wheat sales remained firm.
Soybeans led weakness overnight while corn and wheat struggled to hold onto early overnight strength.
Corn, soybean and winter wheat markets poised for weekly losses, while spring wheat bucked the trend to trade higher.
Cattle futures led strength today as traders shored up discounts to the cash market.
Cash soybeans remain well below last year.
Only four years since 1980 have not had a summer soybean rally.
Corn and soybeans opened higher overnight but struggled to hold onto gains, while wheat saw relative strength overnight.
Trump can offset tariff ruling with other tools.