News
Short-term trend turns bullish for crude oil after U.S./China trade tensions ease.
USDA’s May crop reports are out later this morning.
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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.