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Trump administration floats major tariff rollback in talks with China ahead of talks.
Monday’s reports will include USDA’s initial winter wheat production estimate and new-crop corn and soybean production projections based on March planting intentions and trendline yields.
Corn and soybeans saw strength overnight, led by corrective strength in the old-crop/new-crop calendar spreads.
General market risk appetite is up after the U.S./UK trade deal and weekend talks with China.
Corn, soybean and most wheat prices are under year-ago.
Price action across the agricultural markets was a bit of a mixed bag today.
This is the first bilateral trade deal announced since Trump began slapping tariffs on U.S. trading partners.
Soybeans led overnight strength as optimism surrounding this weekend’s talks between the U.S. and China lifted prices, while corn and wheat reluctantly followed to the upside.