First Thing Today
Grain and soy futures traded in a two-sided range overnight. Some expect the harvest of China’s wheat crop to temper its voracious corn buying.
Argentina’s port strike came to an early end. USDA hiked its ag export forecast, reminding of China’s aggressive buys and the Phase 1 trade deal. USTR Tai talked with her Chinese counterpart yesterday.
Corn struggled to rebound overnight. Meanwhile, another strike is underway in Argentina and China took more steps to tighten its control on commodities.