Futures traded bearishly mixed. The start of the trade war, the possible hiatus in the Ukraine war, static weather conditions, and major USDA reports to be issued on Monday all keep traders in a cautious position.  Today’s USDA Export Sales report covering last week’s activity showed general declines except for soyoil. Old crop wheat export sales dwindled, and new crop sales have collapsed. New commitments for old crop corn and soybeans were down but at the upper end of market expectations. New crop soybeans had washouts as Brazil’s big crop becomes available. Exports of corn and soybeans were solid. Pork sales rebounded but beef slumped on high prices. 

There may not be enough CCC funds to compensate farmers...