Welcome to Markets Desk, your midday read on the stories moving markets right now.
Corn futures found footing Tuesday, closing up four to five cents on the session as a limit rally in wheat provided a strong tailwind. The May WASDE report added further support, showing a fifteen million bushel increase that gave bulls enough to work with heading into the close. Cash corn nationally settled around four dollars and thirty-nine cents.
Shifting to the livestock pits, cattle couldn't hold early optimism. Live cattle futures shed one dollar seventy to two dollars eighty across the front months, with feeder contracts also closing in the red. Cash trade has been notably quiet this week, with bids sitting at two hundred sixty dollars against last week's range of two fifty-six to two sixty. Sellers have the upper hand for now.
On the policy front, President Trump has nominated Cameron Hamilton to lead the Federal Emergency Management Agency — the same official Trump fired last year after Hamilton publicly defended FEMA's right to exist. The nomination signals a meaningful retreat from the administration's earlier posture of dismantling the agency entirely, a shift worth watching as hurricane season approaches.
That's the tape. Markets Desk, signing off the floor.
