Grain Markets Tumble Amid Anticipation of US-China Trade Summit

Grain and livestock markets are showing mixed reactions on Tuesday, amidst anticipation for news from the U.S.-China trade summit that begins Thursday. December corn is down 4 1/4 cents per bushel, while November soybeans are up 1 cent. The Dow Jones Industrial Average is down 227.49 points, and the U.S. Dollar Index is up 0.240.

As of mid-morning, corn and beans were little changed to mostly lower, with wheat and bean oil under pressure. However, soybean meal stands alone in the green. The European Union's maize crop might fall well under the 50 mmt estimates, according to some reports.

In the livestock market, December live cattle are down $2.75 at $219.25, while October feeder cattle are down $2.68 at $327.575. However, December lean hogs are up $1.55 at $71.35. The Dow Jones Industrial Average is down 228.72 points.

No cash cattle trade has developed yet, and both bids and asking prices remain elusive at this time. Traders will be watching for any news from the U.S.-China meeting that could influence markets.