Markets Lower But Rebound Off Lows, Livestock Mixed

Argentina’s corn production, already cut sharply due a stunt disease spread by leafhopper insects, was “likely” to be cut further, the Rosario Grain Exchange said.

Grains end mixed Wednesday with the markets lacking bullish news. Kevin Duling, KD Investors, says wheat was the biggest disappointment.

In a move reminiscent of former President Donald Trump’s trade policies, Biden is considering tripling tariffs on Chinese steel and aluminum imports under Section 301 of the Trade Expansion Act.

Wheat sees technical selling, with corrective buying in beans and products. Corn was slightly lower in a narrow range. Kevin Duling, KD Investors discusses when will grains be an inflationary/geopolitical buy? 

There's now a 60% chance La Niña will develop between June and August and an 85% chance it's in effect by November 2024 to January 2025, according to NOAA.

To bring new ways to connect its agronomy insights with customers, Growmark and 29 of its member FS companies are launching the myFS Agronomy app in conjunction with Intelinair.