News
Speculation continues to swirl Trump’s Thursday night visit to Des Moines could result in news of purchase agreements for corn and beans with China or a delay in the July 9 deadline for increasing tariffs.
Corn futures faced followthrough selling overnight, though remaining above Tuesday’s contract lows.
Concerns about U.S. agricultural exports were a leading factor in the weaker long-term sentiment.
Farm bill showdown averted as Grassley tables amendment on farmer payment limits.
Corn and soybeans led weakness overnight as good crop conditions and a favorable forecast weighed heavily on prices.
Corn conditions unexpectedly improved to the highest rating for this time of year since 2018.
No real surprises in planted acreage estimates or June 1 stocks, aside from cotton acreage coming in higher than anticipated.
USDA trimmed both corn and soy acres from its March estimate, while stocks were slightly higher than expected for corn, soybeans and wheat.