Joe Camp

Grains are called slightly higher at the start in response to, for now, the relief of another relatively quiet weekend. In the Headlines May corn futures gained 5 3/4 cents last week. Nearby beans dropped 6 1/4. Chicago wheat was up 1 1/4 and Kansas City wheat gained 2 3/4 for the week. April live cattle were up $3.77, April feeders also up $3.77, and April hogs were down 50 cents last week. This month's Federal Reserve Bank meeting ended with the interest rate unchanged at 4.5 percent, but with the outlook remaining for two quarter-point cuts still this year. Market odds are still for the central bank to wait until June for the first cut. The tone of Chair Jerome Powell was a bit more bearish as he spoke of seeing weaker growth and higher inflation. Powell linked elevated inflation expectations to tariffs while saying the influence may just be 'transitory.' A lot of people likely groaned hearing that word again. President Trump commented last week that the Fed should "do the right thing and lower interest rates." U.S. officials were meeting with delegates from Ukraine in Saudi Arabia today for discussions about ending the war with Russia. The…

Grains are called slightly higher at the start in response to nothing overly negative popping up yet over an otherwise quiet weekend. In the Headlines Corn futures were lower on Friday, but the May contract held a gain of 3 1/4 cents for the week. Soybeans were higher on Friday but still 9 cents lower for the week. Chicago wheat was up 5 3/4 and Kansas City wheat gained 21 1/4 for the week. April live cattle were up $2.90, April feeders up $3.05, and April hogs down 72 cents last week. This weekend's political talk was mostly centered on President Trump invoking the Alien Enemies Act of 1798 to authorize the immediate deportation of Venezuelan gang members. A federal judge halted the deportations on Saturday morning and ordered the return of any flights currently underway. The White House is appealing the judge's decision and there will be a court hearing on the matter this Friday. The U.S. military launched airstrikes against Houthi rebels in Yemen this weekend. The terrorist group had stated last week that they planned to continue targeting ships moving through the Red Sea and the Gulf of Aden. President Trump vowed to keep pressure on the…

Grains are called fractionally mixed in a quiet open that would require nothing substantial popping up in the news before markets start trading again. Grain traders are likely to look for guidance from whether stock futures and crude oil show signs of regaining stability. In the Headlines Tariffs dominated as the top focus of traders last week in a timeline that led to the latest headline about President Trump pulling back the new 25 percent import charges on goods covered by the U.S.-Mexico-Canada Agreement, including the early carve outs for U.S. automakers and agricultural products. There were no apparent exemptions or changes for the fresh tariffs levied on China. The response from China last week included retaliatory tariffs against U.S. exports that ranged from 10 percent on sorghum, soybeans, meat, and diary to 15 percent on wheat, corn, and cotton. Newly developing over the weekend was that China place tariffs against Canadian agriculture, with new taxes of 100 percent on Canola and 25 percent on pork. House Republicans released a bill on Saturday that would extend funding to the government until September, with this Friday being the next shutdown deadline. Other weekend headlines include about the advancement of a Russian…