Tuesday, June 2, 2020 9:31AM CDT
President Donald Trump laid out several punitive measures against China on Friday, which includes eliminating special status for the semi-autonomous region of Hong Kong. The U.S. has treated Hong Kong separately from mainland China. The U.S. exports about $4 billion in agricultural commodities to Hong Kong.
July corn is down 1 3/4 cents per bushel, July soybeans are up 3 cents, and July KC wheat is up 4 1/2 cents.
Moderate to widespread pressure is expected to redevelop in live cattle futures Wednesday morning following limit losses Tuesday. Continued weakness is expected in beef values as prices return to more-normal levels following the surge higher in April and May.