Trade is stuck in a range heading into Wednesday, with three major storylines keeping traders focused.

First: Trump and Xi. The long-awaited meeting between President Donald Trump and Chinese President Xi Jinping is underway, with trade and broader U.S.-China relations in focus.

Second: Russia and Ukraine. Markets continue to watch for signs of a ceasefire or stand-down. Ukraine says it is ready for a maritime truce in the Black Sea, while Russia has indicated it will continue fighting during negotiations.

Third: Harvest weather. Wet weather is becoming a bigger story as harvest moves forward. Forecast models point to additional rain across the western Corn Belt, with parts of Iowa and Nebraska facing more moderate to heavy rainfall through the week.

And cattle? Nebraska is seeing some cash bids develop. The question now is whether that cash support can help cattle hold onto the green as futures trade through another choppy session.

Wednesday Market Wrap Up with Arlan Suderman at StoneX