Pro Farmer
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.
The latest letters were sent to six countries, which are relatively minor trading partners.
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.
The new initiative is a key pillar of the Trump administration’s “Make Agriculture Great Again” agenda.
USDA unveils aggressive new action plan for farm, food security.
Grains are expected to continue the followthrough selling that pressured markets overnight.