News
Soybean sales during the week ended April 3 totaled 172,300 MT, which were down 58% from the previous week and 63% from the four-week average. Corn and wheat sales also declined on the week.
Soybeans show vulnerability to tariffs war with China.
Grains remain relatively calm amid volatility in global stock indices, bonds, currencies and other markets.
Corn basis firmed over the past week but remains below average.
The grain and oilseed markets shook off extensive selling pressure in equity futures overnight, each posting gains in the overnight session.
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U.S. reciprocal tariffs kicked in at midnight; China retaliated early this morning.
How USDA handles usage forecasts in the face of the trade/tariffs turmoil adds some uncertainty to what’s normally a uneventful report.
Corn, soybeans and wheat each posted solid gains overnight alongside most risk assets.
China vows to ‘fight to the end’ in tariffs battle.
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Only Montana, Indiana and North Carolina showed improvement since last fall.
Weekly wheat inspections led the decline, dropping 166,621 MT during the week ended April 4, followed by corn (down 64,079 MT) and soybeans (down 8,799 MT).
Soybeans, livestock and equities markets hit hardest by trade concerns.
Seller interest is limited for grains and oilseeds with wheat futures working slightly higher. Livestock markets are lower with markets subject to expanded trading limits today...
Volatility continues to run rampant across the marketplace, dictating much of the price action in the grain and soy markets.
Price trends for many ag and outside markets are now bearish.