First Thing Today
The broader marketplace is monitoring escalating tensions in the Middle East and awaits Fed commentary and other macroeconomic developments.
Soyoil futures extended Friday’s strong gains that were tied to EPA’s proposed biodiesel mandate.
Israel strikes Iran, triggering oil supply concerns and surge in crude oil futures.
USDA’s June Crop Production and WASDE Reports are expected to show just modest changes from last month.
U.S., China reach deal to ease export curbs, keep tariff truce intact.
Soybeans tried to work higher amid corrective trade but buyer interest was limited.
U.S. negotiators are meeting with China and India, while USDA’s June crop reports are scheduled for Thursday.
Soybeans and winter wheat markets are poised to post weekly gains, while corn is lower for the week.
Traders’ focus is split between trade happenings, weather and geopolitics.
Ag part of trade deals that could be announced ‘soon.’