What You Need to Know Today

Ag markets have placed bets on new soybean demand from China after next week’s Xi-Trump meeting. While the media predicts no major deals or agreements, Beijing sees Trump as transactional so it will “buy” some stability, and soybeans are relatively cheap ballast.  Ag futures weighed all the inputs this week and mostly turned south. U.S. plantings are advancing at or near a record pace, and the weather will soon turn warmer, though it needs to turn much wetter.   Argentina’s crop yields are surpassing expectations as the corn harvest is around a third complete.  U.S. winter wheat is challenged, and spring wheat areas are too dry. Buyers have other options from areas wit...