Soybeans and Wheat well off session highs as trump Administration rumored to be paying farmers $2/bushel for Soybeans, corn and Wheat farmer will also get s subsidy.In the details of the plan farmers will be paid in different way then last years deal “While the payments last year were based on farmers’ current production, the basis will be modified, the people familiar with the plan said. The administration is considering basing payments on the acreage farmers plant this year and their historic yield
of crops per acre, the people said “-Bloomberg
This will likely cause a bit more supply according to ag economists “this procedure will skew farmers towards planting more soybeans at the expense of Corn and further increasing production.” Corn a few ticks from session highs after falling with Soybeans.
Theresa May gave a big boost to the Pound when she said she would allow a Second referendum vote on brexit,but the headline was followed by prerequisites to get to the brexit vote .The powers that be in parliament did not like what they heard soo GBP little changed now ,a big 131 tick range in GBP futures
Spoos +24 handles,nasdaq +83, NDX Cash still in Gap from yesterdays open/fridays Close. July Copper scoring a new Contract low ,lowest levels in 3 months low,Kohls -9% but the retail ETF+ 1.25..