The rainy season favors the Argentinian market as commercial buying props up soybeans. Crop futures are also looking agriculturally optimistic.
Agricultural crops closed low since last week with coffee and sugar futures looking dimmer. Cocoa grind data are eventful, scoring high this week.
China threatens to tax US soybeans by 25 percent above the normal rate but supply and demand continue to rise, owing to the wet weather.
Trade wars between the US and China hurt crops as futures remain volatile despite closing high on wheat, palm oil, vegetable oil and rice.
Amid trade wars between the U.S. and China, corn stocks remain steady. Experts see a favorable market for corn in the coming days.
Thanks to USDA Perspective Plantings, corn and soybeans closed higher this week. Despite a drop, cotton and sugar remain unfazed.
USDA remained confident with last month's quarterly grain stocks on a positive note. However, last week was different with soybeans and corn on a low.
More soybean and soybean meals were sold last week in anticipation of China’s retaliation against the Trump administration’s trade tariffs.
With the weather being friendly, reports of US Quarterly Grain Stocks look promising. Corn and soybeans are pushing for hopeful prices and a bullish market.
Due to the friendly weather, charts reflect an uphill trend for cocoa, coffee and sugar futures. Corn and orange juice remain unchanged since last week.