Joe Camp

Grains look toward a firmer open in follow up from a positive finish on Friday. Possible disruptions could come from any major changes in the situation with President Trump deploying the National Guard as immigration policy protests erupt in Los Angeles. Traders will otherwise have some optimism over the trade meeting with China. Positions will be prepared for the Thursday crop report. In the Headlines Trade negotiations with China resume on Monday with a meeting in London. The U.S. side will include the Treasury Secretary, Commerce Secretary, and the Trade Representative Ambassador, with China represented by its Vice Premier. This group was previously reported to have reached an impasse, but talks were advanced by a phone call between President Trump and Xi Jingping last week. Trump indicated that the phone call included Xi's assurance that imports of rare earth materials and magnets could continue. It was another record week for the cattle market last week, with futures working up toward fresh all-time highs in the cash trade again. Monday opens up the delivery period for June live cattle futures, which still have the rest of the month to converge with the price. Cash deals jumped by as much as $10…

Still much could change this afternoon, but the grains otherwise look set to follow through on last week with slightly softer corn and soybean futures, but firmer wheat. In the Headlines Weekend trade developments included President Trump announcing that steel and aluminum tariffs would be raised from 25 to 50 percent on June 4th. Trump visited U.S. Steel in Pittsburgh, a company that looks closer to being merged with Japan's Nippon Steel. It was suggested that Japan would be allowed to make a major investment in U.S. Steel but not permitted to fully acquire the company. Grain markets were already reeling heading into the weekend after reports of an impasse in trade negotiations with China. U.S. Trade Representative Jamieson Greer indicated that China was not removing any of the non-tariff trade barriers as promised last month in Geneva. On Friday morning, President Trump posted that China "HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!" U.S. Health and Human Services Secretary Robert F Kennedy Jr released a report last week that advanced his fight against ultra-processed foods, seed oils, herbicides and pesticides, and fluoride. Many were quick to call out the report for referencing fake…

We honor those who sacrificed their lives in service of our country on this Memorial Day. The market is closed for the holiday before grain futures open again tonight at 7 pm central for the Tuesday session. Grains look to start with a firmer tone to price in a drier forecast and optimism over new trade deals coming soon. In the Headlines Russia launched its most aggressive aerial attacks of the war against Ukraine this weekend, drawing the ire of President Trump, who posted that Vladimir Putin "has gone absolutely CRAZY." The European Union was granted a one month extension on the previous June 1st deadline for 50 percent tariffs against the trade bloc. President Trump spoke with the European Commission president on Saturday and agreed to extend negotiations. Trump is reportedly pushing for a large European company to agree to making major investments in the U.S. The short holiday week has a busy economic calendar, including a revision of the first quarter GDP data, which came in negative on its initial reading. Friday morning will feature the personal consumption expenditures report that traders view to be the Federal Reserve Bank's preferred measure of inflation. Before then, on Wednesday, Nvidia…

A steady to slightly softer start is expected for grain futures following another weak close Friday. Technical selling pressure persists but may soon leave board values looking oversold for the short-run. In the Headlines A massive dust storm swept across Illinois and Indiana on Friday evening to emphasize the extent of dry, windy weather. Winds ranging from 60 to 70 miles per hour brought Chicago its first dust storm since 1934. Dirt moved for the new planting season fueled the storm, similar to when a Central Illinois dust storm caused a highway pileup in May 2023. Soybean oil futures suffered a limit-down day on Thursday based on the bearish reception of comments from EPA head Lee Zeldin and on rumors about the proposal of renewable volume obligations being lower than expected. The EPA was also thought to be close in deciding the outcome for over 160 small refineries that previously filed for blending exemptions. A proposed extension of the 45Z Clean Fuel Credit was blocked on Friday as part of the One Big Beautiful Bill Act being considered in the House of Representatives. The House Budget Committee holds the bill and will reportedly reconvene for talks on Sunday night. The…