Good morning and welcome to Markets Desk, your midday read on what's moving and why.
The big policy story today centers on Anthropic, and it's a notable reversal out of Washington. The Trump administration's Commerce Department has lifted export controls on Anthropic's Fable five and Mythos five AI models, allowing the company to restore access following what had been a sharp dispute with the White House. The episode underscores just how quickly the regulatory ground beneath frontier AI can shift, and how directly government posture now shapes commercial access to these tools.
Turning to the grain pits, wheat had a strong session across all three exchanges after a bull-friendly read from the USDA. Chicago soft red winter contracts led the move, with nearby futures up as much as eleven and a quarter cents. Kansas City hard red winter closed up ten to eleven and a quarter cents, and Minneapolis spring wheat added four cents. Tighter supply signals in the report gave traders the conviction to push prices higher.
And soybeans closed out the month of June on a constructive note, even with the USDA flagging larger stocks and more planted acres than the market had hoped for. Contracts finished four and three quarters to twelve and a half cents higher, with the national cash price settling near ten dollars and seventy cents. Traders bought the fact after selling the fear, a classic end-of-month repositioning.
That's the tape. Markets Desk, signing off the floor.
