Grains are called lower at the open following a bearish finish on Friday and the subsequent escalation of the trade war with China after the market closed. New developments could occur leading into and through the overnight session, particularly from any possible comments to come from President Trump. In the Headlines Grains started back lower on Thursday last week as tensions with China fared up, first with new Chinese restrictions on U.S. computer chips, more controls on rare earth exports, and reciprocal charges against U.S. ships. The U.S. fees against Chinese vessels and vice-versa are set to go into effect on Tuesday. The grain selloff was extended on Friday as President Trump suggested cancelling his meeting planned with China’s Xi Jinping for the end of the month. A follow-up post from Trump on Truth Social announced, “the United States will impose a Tariff of 100% on China, over and above any Tariff that they are currently paying. Also on November 1st, we will impose Export Controls on any and all critical software.” The ceasefire between Israel and Hamas was holding as of Sunday morning while the Islamic militants reportedly prepare to release 20 living hostages on Monday in partial exchange…
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