The Trump administration is due to announce $50 billion in final tariffs on China today, and though the details of any move are still unknown the market as usual assumes the worst. For agriculture that means China could retaliate with tariffs of its own blocking imports of soybeans and other products. Growing season weather is also improving, with forecasts showing warm and mostly wet conditions over the next two weeks. July corn and soybeans plunged to new contract lows overnight as a result.

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Bryce Knorr first joined Farm Futures Magazine in 1987. In addition to analyzing and writing about the commodity markets, he is a former futures introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Call on www.FarmFutures.com he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. His other weekly reviews on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.