October live cattle broker lower on the open on the back of a tweet from President Trump regarding Trade with China; “China was supposed to start buying our agricultural product now - no signs that they are doing so.
U.S benchmarks are lower this morning just as the week heats up. First, the Federal Reserve begins its two-day policy meeting today and concludes tomorrow at 1:00 pm CT. A cut of 25 basis points is fully expected and the probability for 50 basis points hovers at 25%
Corn futures softened up last week as better weather started to appear on intermediate-term forecasts. This is undoubtedly good news for what is in the ground, but there is still an enormous amount of uncertainty regarding how many acres got in the ground.
The market is overall quiet after a new record close for the S&P on Friday. Reports that high-level U.S officials are traveling to China for a fresh round of trade talks has had little impact on an already firm tape.