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Trump Temporarily Suspends Tariffs on Mexico πŸ‡²πŸ‡½πŸ’Ό
President Trump agreed to delay the planned 25% tariffs on Mexico for 30 days. πŸ‡ΊπŸ‡ΈπŸ€πŸ‡²πŸ‡½ In return, Mexico committed to sending 10,000 National Guard officers to the border to curb fentanyl and migrant flows. As a result, the Mexican peso strengthened, and corn futures recovered, easing concerns over unshipped US corn sales to Mexico. πŸŒ½πŸ’°

Trump Suspends Tariffs on Canadian Imports πŸ‡¨πŸ‡¦πŸ’Ό
President Trump also delayed tariffs on Canadian imports for 30 days after negotiations with Canadian Prime Minister Justin Trudeau. Canada agreed to spend $1.3 billion to strengthen its border, appoint a fentanyl czar, and list Mexican cartels as terrorist groups. πŸ“ˆ

China Announces Retaliatory Tariffs πŸ‡¨πŸ‡³βš”οΈ
China imposed retaliatory tariffs on some US imports, including a 15% tariff on $5 billion worth of energy imports like oil and natural gas. β›½ A 10% tariff on agricultural equipment was also announced. China refrained from targeting soybeans, but tensions remain. βš–οΈ

Brazilian Real Climbs Against the Dollar πŸ’°πŸ“ˆ
The Brazilian real rose for the 11th consecutive day, hitting its highest level since November, following Trump’s tariff suspension on Mexico. πŸ“Š It has gained roughly 6% year-to-date, reflecting optimism about Brazil’s economic outlook.

Brazil’s Soybean Crop Estimates Vary 🌱
Brazil’s soybean crop estimates differ among analysts. Celeres raised its forecast to 174mmt due to favorable weather, while StoneX cut its estimate to 170.9mmt due to dry conditions. 🌾 AgRural reported that Brazil's soybean harvest is 9% complete, trailing behind last year's pace. πŸ“‰

US Corn Shipments Surge 🌽🚒
US corn exports remained strong, with 1.3mmt (49 million bushels) inspected for export, up 94% from last year. 🌾 Soybean exports were also up by 37% compared to the prior week. However, wheat shipments declined. πŸ“‰

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