China

Matt Bennett, AgMarket.Net, says soybeans rallied with the tailwind of more talk of Chinese tensions easing and May closed above key 200-day moving average resistance.

Allison Thompson, The Money Farm, says soybeans are seeing follow through buying on Wednesday with the de-escalation of the China trade war.

Dan Basse, president of Ag Resource Company in Chicago, says corn was pressured by the fast planting pace of 12% nationally and a slightly more open forecast for the next week or so.

The tit-for-tat on tariffs between the U.S. and China continues, with China announcing on Friday a new rate of 125%, which is up from the 84% announced earlier this week. That pushes the tariff on U.S. pork and pork variety meat to 172%. The new soybean tariff is more than 150%.

Rising tariffs between the U.S. and China are putting pressure on key dairy exports like whey and lactose, sparking concern over the potential of lost sales and falling prices.

Arlan Suderman, StoneX Chief Commodities Economist says the markets reacted positively to the 90-day delay on reciprocal tariffs for countries that reached out to negotiate with the U.S. and did not retaliate.

A global industry with tightly tied supply lines is riding the tariff roller coaster as the world waits to see how President Trump’s tariff strategy will play out.

As the trade war heats up, the reality is China is still the top export destination for U.S. farmers, even if the country isn’t buying as many soybeans as 2018.

Kevin Duling, KD Investors, says grains are shaking off the news of an escalation of the trade war with China as they announced overnight they would be placing an additional 50% retaliatory tariff on U.S. goods, including ag.

After China retaliated with its own tariffs, the U.S. said on Tuesday that 104% duties on imports from China would take effect shortly after midnight, even as the Trump administration moved to quickly start talks with other trading partners targeted by Trump’s sweeping tariff plan.