Update: The president said in a statement this morning that the US will impose tariffs on $50 billion worth of Chinese goods:
"In light of China’s theft of intellectual property and technology and its other unfair trade practices, the United States will implement a 25 percent tariff on $50 billion of goods from China that contain industrially significant technologies. The United States can no longer tolerate losing our technology and intellectual property through unfair economic practices."
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Soybeans were lower overnight, dragging down grains, ahead of President Trump's decision on whether to impose levies on Chinese goods. Investors fear if that happens, China will impose its own duties on American goods including soybeans. Beans lost 15 cents overnight, corn was down 3 cents and wheat lost 7-8 cents. Old-crop export sales were higher than expected, though China wasn't on the list of countries that bought soybeans last week, according to the USDA. in weather news a large chunk of land stretching from Nebraska to Illinois and northern Iowa through southern Missouri is under heat warnings and advisories. Heat indexes are expected to be 105 to 110 degrees Fahrenheit in the affected areas, the National Weather Service said. Check out all the details in today's 3 Big Things.
West Texas Intermediate = down 0.1%.
Brent Crude = down 0.6%
Dollar = down 0.1%.
Wall Street = U.S. stock mixed pre-market.
World Markets = Global stocks mixed overnight.
