The grain trade awaits talks between the US/Mexico today.

Grain trade firms on short covering but retreats before Trump-Sheinbaum talks. US-Mexico tariffs eyed. Brazil soy basis rises, dryness concerns persist, cattle market mixed.

The overnight grain trade was mostly higher on further short covering from Wednesday’s positive session. The trade retreated gains this morning before the close as the market awaits Pres. Trump’s talks with Mexican President Sheinbaum.

The market is anticipating that there will be modifications to the 25% US tariffs that will prevent retaliation against …