News
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.
Starting July 10, farmers who suffered eligible crop losses in 2023 and 2024 can apply for Supplemental Disaster Relief Program assistance.
Weather remains favorable, if not ideal, for crop development, while trade uncertainty also continues to hang over markets.
Corn and soybeans tried to work higher on corrective buying at points overnight but favorable weather and trade uncertainties kept buyer interest limited.