Grains are weaker in the overnight session. Corn down 2 cents, wheat down 3 ½ cents, and beans down 4 cents.
USDA WASDE report tomorrow at 11 a.m.
Trade will be watching US cash basis levels for any sign of China interest or suggesting a trade deal could be soon.
For the week, winter wheat prices were up roughly 12 cents for HRW. Corn was up 7 cents. Soybeans up 22 cents.
Unless U.S.-China trade talks wrap up successfully by March 1, new tariffs will be imposed, U.S. Trade Representative Robert Lighthizer said on Sunday, clarifying there is a "hard deadline" after a week of seeming confusion among President Donald Trump and his advisors.
Chart of the Day
Courtesy of USDA: Click Here For More
U.S. agricultural exports are projected to total $141.5 billion in fiscal year (FY) 2019, while agricultural imports are expected to total $127 billion, according to ERS’s latest outlook for U.S. agricultural trade. The $14.5 billion surplus projected for FY 2019 is the lowest since FY 2007, when the United States exported $12.2 billion more in agricultural goods and services than it imported.