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…
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