U.S. grain and soybean futures weakened on Monday as optimism faded over prospects for a trade deal with China, reports Reuters.
The markets focused on the trade conflict after President Trump on Saturday raised doubts about whether there had been an agreement to lift tariffs.
“We’ve got more questions,” Jim Gerlach, president of Indiana-based broker A/C Trading, told Reuters. “Are they or aren’t they on the trade?”
Crop prices came under further pressure as traders were expecting drier U.S. weather to help farmers wrap up corn and soybean harvests that have been delayed by cold, wet weather. More snow and rain fell in parts of the Midwest on Monday.
