News
Limited upside for grain markets amid favorable weather, trade uncertainty.
Corn and wheat are mildly firmer with soybean futures choppy this morning. Livestock futures are slightly softer to start the week...
The list of major trading partners facing increased tariffs on Aug. 1 continues to build.
Cattle futures expected to open higher, hogs lower.
Corn rebounded from fresh contract lows, while soybeans bounced from a drop below $10.
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Cut to ending stocks fails to spark corrective buying in corn, as traders remain focused on favorable weather.
An exclusion for goods covered by USMCA was expected to stay in place and 10% tariffs on energy and fertilizer were also expected to remain at that level.
Weather conditions are expected to remain favorable through at least the end of July.
Corn, soybeans and wheat traded on both sides of unchanged during the overnight session but are mildly weaker early this morning.
Cash cattle prices have retreated from recent record levels but remain at historic highs.
CPC puts nearly 90% odds of neutral conditions lasting through August and 56% chances they will persist until October.
Drought covers 35% of spring wheat areas, but only minor levels for corn, soybeans and cotton.
Brazil threatens reciprocal measures to Trump’s planned tariffs.
Traders failed to respond to strong weekly export sales reported near the end of overnight trade, signaling focus remains on weather.
Corrective buying in wheat futures early this morning helped pull corn and soybeans off their overnight lows.
Basis is better than average for SRW, but well below average for HRW.