News
Corn, soybeans and wheat initially pushed higher in an extension of corrective gains the two previous days during the overnight session but have weakened this morning.
Corn, soybeans and wheat built on Wednesday’s corrective gains during overnight trade.
Basis dropped for both corn and soybeans despite sharply lower cash prices.
Strengthening crop prices, positive returns in the livestock sector and expectations for receipt of disaster payments from USDA all combined to strengthen current conditions.
Corn and wheat led overnight strength as Lutnick says U.S. may walk back tariffs on Mexico, the top buyer of U.S. corn and wheat.
Trump administration signals possible tariffs relief for Canada and Mexico.
Trump talks to Congress | Ukraine signals peace talks | China targets ‘around 5%’ GDP growth | Panama Canal
Trump wasn’t bluffing despite a lot of pre-tariff doubts
Corn, soybeans and wheat each faced follow-through selling pressure overnight in reaction to the start of trade wars with key trading partners.