06/03/2026 Tariffs Push Rebuilds; Middle East Conflict Continues

06/03/2026 Click Above to Watch the Morning Market Talk Video Tariffs Push Rebuilds; Middle East Conflict Continues On the Grains Soyoil futures strengthened overnight and are trading just below Monday’s contract highs. Soybeans followed to the upside. Wheat markets mildly extended their price slides. Corn has come off its for-the-move lows overnight to chop around unchanged early this morning.Traders have a lot of volatile news and events to digest, with many of the factors giving conflicting price signals. The U.S. and Iran continued their clashes overnight, threatening the shaky ceasefire, while the Trump administration proposed new tariffs on a host of key trading partners. Traders are also digesting normal summertime fundamentals, including weather, crop conditions and potential impacts to production potential. The U.S. is proposing new tariffs of at least 10% on imports from 60 trading partners, the Office of the U.S. Trade Representative said late Tuesday.   Following an investigation into how trade partners handle goods allegedly produced by forced labor, a 10% tariff rate would apply to imports from Canada, Mexico, the European Union, Taiwan and UK, among others. Products from other major economies, including China, India, Japan, South Korea, Brazil and Switzerland, would be subject to a 12.5%…