We saw wheat trade enter some overbought territory and pull back on Tuesday with Chicago and KC the downside leader in grains. New, expanded tariffs on Chinese goods by the Biden Administration also seemed to weigh on the grain markets somewhat along with CONAB raising their Brazilian soybean estimate about 1 million metric tons.

Meantime, the livestock trade saw a strong surge higher led by cattle on Tuesday and we got more hot inflation data out as well. Tyler Schau with AgMarket.net joins us to discuss the markets on today's show. Learn more at https://www.agmarket.net.