The lack of clarity surrounding tariffs with key US trading partners like China has pulled new-crop sales well below historical averages. China has been conspicuously absent with no sales on the books for US soybeans, corn or wheat. Wheat sales into major markets like the Philippines and Korea lag historical levels, while corn new-crop sales to important destinations like Japan and Latin America are behind average. Strong old-crop sales and domestic usage that has supported local basis have largely masked the drop in new-crop sales. For grain elevators and merchandisers that typically book grain sales out several months in advance, the headwinds of trade uncertainty remain firmly in place.