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On the Grains
Good morning, subscribers. We will try to avoid the tariff talk as much as possible, that story has been run, and only time will tell what China elects to do. President Xi Jinping and President Trump did not have their scheduled phone call yesterday, and the White House gave no reason why this was canceled. The original trade deal that China signed was for significant Ag purchases, which China has continued to fall short of reaching. I would suspect President Trump will push to at least get that covered, yet China has been courting Brazil since that deal was signed, making any large announcement or new deal with China a wait-and-see storyline. 

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