Grain markets lower on profit taking following recent rally. Equity markets are lower and the US$ index is moderately higher. Chatter that President Trump will announce additional tariffs against China this morning. Traders squaring positions ahead of next Tuesday’s USDA/WASDE S&D reports. U.S. wheat stocks are estimated at 799 million bushels. Wheat futures 3 to 4 cents lower, corn is down 9, and soybeans 12 cents in the red. Have a great weekend!
