Today’s post-holiday market was not the frenzied affair that sometimes follows the 4th of July. There was no overnight session (due to the holiday), and trading seemed relatively subdued when it began this morning. It remained quiet even though wheat and soybeans closed with notable price changes that were much higher for the former and lower for the latter. The markets are waiting for tomorrow and the expected tariffs to be imposed by the U.S. followed by China. The Chinese tariff targets include soybeans and pork among other ag commodities. Today’s prominent price action took place in the wheat market where traders have finally started to pay more attention to reports of production losses or threatened losses in the Black Sea...