Corn is unchanged, soybeans are mixed and wheat is off 10 to start the week and month.
The soap opera continues as the Trump administration’s threat to ban TikTok, the viral teen phenom, and other Chinese-owned apps could significantly hamper their access global user data, which is an immensely valuable resource in a modern internet economy. Any US decision, which Secretary of State Pompeo said would come “shortly,” is likely to be followed by a similar pressure campaign that prompted some allies to ban Huawei.
This will surely raise the tensions between the US and China leading traders to debate whether or not it will have an impact on the Phase 1 trade deal.
Corn and soybean crop ratings are expected to hold steady or even possibly gain a tad after last week’s rains across the southern half of the Midwest and Delta. Those rains could prove especially significant for soybeans where the rains would produce the most benefit.
Have a Safe Day!