Evening Report
The latest letters were sent to six countries, which are relatively minor trading partners.
The new initiative is a key pillar of the Trump administration’s “Make Agriculture Great Again” agenda.
Trump to impose a 25% blanket tariff on all goods from Japan and South Korea starting on Aug. 1.
Ag scored some big wins, including higher reference prices, positive changes in crop insurance, a big boost in trade market development funding and a bevy of ag-friendly tax provisions.
Rumors Trump could report progress on a trade pact with China fueled strong gains in soybeans today.
The bill includes several key ag provisions but still faces a difficult path as House and Senate Republicans must agree on a unified version.
Overall market reaction was muted in what i typically the most volatile trading day of the year.
Traders gearing up for potentially market-moving reports on Monday
Export taxes are set to revert back to pre-cut levels on July 1.
USDA keeps food price outlook unchanged.