Mark Knight with Farmers Keeper Financial says grains opened higher on news of a call between President Trump and Chinese President Xi then traded on both sides of steady.

A 25-page criminal complaint alleges the researcher and her boyfriend were attempting to bring Fusarium graminearum into the country. The fungus causes significant diseases in a number of food crops, including corn, wheat, barley, soybeans and rice. Toxins from the fungus are harmful to humans and livestock.

Tommy Grisafi of Nesvick Trading says it was a risk on day in the grains as they attempted to add weather premium on the hot, dry extended forecasts. “I feel like these markets have very little if any weather premium.”

USDA projects a $49.5 billion agricultural trade deficit for fiscal year 2025, nearly double the gap from two years ago.

The problem occurs at a specific growth stage – typically between V3 and V5 – as the corn seed roots are handing off their jobs to the first two sets of true crown roots.

Kevin Duling with KD Investors says corn and soybeans are building on the reversals scored on Tuesday after corn made new lows for the move and then bounced. Wheat is reluctantly following.