Jeff Wilson joined the Pro Farmer team in 2018 as our senior market analyst.
President Trump said he will impose a 5% tariff on all Mexican goods, taking effect on June 10, if the country does not stop immigrants from illegally entering the U.S.
Quiet demand may cap rallies until weather outlook become clear.
Price rallies are also trying to send an economic signal that growers should continue to plant corn, soybeans and wheat past crop insurance dates.
The widespread and heavy rain is cutting back acreage ideas and shortening the growing season.
Planting delays are weighed against a new government aid plan that could encourage farmers to persevere with planting efforts to remain eligible for tariff aid payments.
Markets waiting for White House to announced details of tariff aid program this afternoon.
Rains forecasts into next week will provide underlying support and keep U.S. plantings delayed.
Serious planting delays and more rain in the forecasts increasing U.S. production risks.
Charts turning bullish but dependent on a strong weekly close on Friday.