President Trump sent out more letters today to 6 additional countries, warning that reciprocal tariffs will take place on August 1st if no deal is made. Earlier this week, letters were sent out to other trading partners (including Japan and S Korea), also warning that tariffs will increase starting August 1st. Our ag markets finished the day mixed with corn finally finding a little bit of stability after scoring fresh contract lows early in the session. Soybean futures took out nearby support, making new lows for the move and having its worst close in nearly 3 months.
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