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 up 3/4 cent per bushel, July soybeans are up 2 1/2 cents, and July KC wheat is down 6 3/4 cents.
Following strong early pressure in nearby live cattle trade and lean hog futures Monday, mixed market activity is likely to develop Tuesday morning as traders focus on potential further meat market losses.