The CBOT was sharply lower to start the holiday-shortened trading week with Friday’s ruling that President Trump’s tariffs may be illegal throwing ag and other markets into confusion. The ruling makes unclear the outlook for negotiating further trade deals – or even continuing newly-inked agreements – and opens the potential that $160 billion in tariff revenue might have to be returned. The wide-ranging impacts of this move have made markets deeply unsure now of what happens next. Treasury Secretary Bessent expressed confidence that the Supreme Court will overturn the ruling, but initial claims by legal experts suggest the court may be equally inclined to uphold or strike down the ruling. The immediate consequences o...
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What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...