** The USDA May Crop Report was viewed as bearish amid large US corn, soybean and wheat stocks. WASDE pegged 2019/20 US wheat stocks at 1,141 Mil Bu, US corn stocks at 2,485 Mil Bu and soybean stocks at 970 Mil Bu. All combined, 2019/20 US corn/soybean/wheat stocks amount to 4,596 Mil Bu (up 379…
CBOT values are lower across the board, with spot soybeans falling below $8.00 for the first time since late 2008. Overnight news regarding China’s change to trade talks, along with their simply being few hours remaining before US tariffs on Chinese goods more than double have weighed on world raw material and equity markets. US…
** CBOT values are mostly lower as traders fret that the US/China are on a path to “no deal”. Reuters reported that China had red-lined a good share of a 150-page document that outlined a 5-month effort to achieve a US/China trade pact. The official Chinese red-line cable was sent to the US Gov’t late…
** Mixed on reduced volume has been the morning with CBOT volume subsiding at noon. US stock values are sharply lower as the Trump Administration will raise tariffs against China on $200 Bil of goods on Friday AM at 12:01 AM. The tariff increase will go from 10% to 25% as President Trump raises the…
** Following a sharply lower opening, CBOT prices have modestly recovered on a combination of fund short covering and end user pricing. The uncertainty of how China will react to US President Trump’s threatening Sunday tweets on trade is being debated within the industry. US stock market values have cut their losses in half –…
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