On Monday, 14 countries received letters indicating tariff increases of 25% to 40%, including Japan and South Korea. Meanwhile, President Trump extended the implementation date for those tariffs to Aug. 1

Brian Grete, editor of Pro Farmer, says grains saw another ugly day with funds selling across the complex.

The losses to the agricultural community won’t be known for a few weeks but are devastating and come just over a year after Texas was hit by the biggest wildfires in U.S. history.

Frayne Olson, NDSU Extension Crops Economist, says weather and improved crop ratings and benign weather are weighing on the corn and soybean markets. However, tariff uncertainty is also negative for prices.

Arlan Suderman, Chief Commodities Economist with StoneX, says funds sold aggressively and erased almost all of last weeks gains, as they came back from the holiday and saw no threat in the weather forecast.

Brad Kooima, Kooima Kooima Varilek, says cattle futuresare showing resilience early Monday due to better than expected cash trade. However, grains are seeing heavy selling pressure.

Jerry Gulke, president of the Gulke Group, says the grain markets turned this week, not on trade news, but rather on less talked about factors.

Mark Schultz, Northstar Commodity, says corn and soybeans saw follow through technical buying and short covering heading into a three day holiday but were also trading hopes for a positive trade announcement on China from President Trump.

Scott Varilek of Kooima Kooima Varilek says cattle futures are trading higher building on Wednesday’s big reversal which was initially triggered by trade news but then better than expected cash trade added to the rally. Grains are also higher on hopes of an announced deal with China.

Oliver Sloup, Blue Line Futures, says it was a combination of short covering and technical buying heading into a long holiday weekend but the announcement of a trade deal with Vietnam also provided a spark.