Pro Farmer
Lean hog futures ended the day near session highs after lower opens.
Soybeans continue to lead strength while corn saw corrective buying overnight.
Drought covers 33% of winter wheat, 26% of corn, 21% of soybeans and 49% of spring wheat.
During the week ended April 17, wheat notched net reductions, falling noticeably from the previous week, while soybean sales declined 50% and corn sales down 26%.
China says there are no tariff negotiations with Washington
Corn rebounded from recent losses and wheat traded mostly lower overnight.
Corn basis remains well below average.
Trade agreements take a long time.
Uncertainty around trade policy was noted across all 12 districts, especially for agriculture.
White House nears tariff frameworks with Japan, India.
Soybeans saw relative strength overnight, building on Trump’s seeming change of attitude towards China.
President Trump floats ‘substantial’ China tariffs cuts.
Trade uncertainty paints weaker outlook for global economic growth.
