Farm commodities from pork to cotton slumped on Monday, with soybeans dipping below $8 a bushel for the first time since 2008 in Chicago, after China said it will raise tariffs on some U.S. goods starting June 1. “Clearly, there’s uncertainty about where we’re going from here,” said one St. Louis-based independent analyst. “Both parties have backed themselves into a corner.’’ (Bloomberg)

China’s top trade negotiator Liu He will travel to the U.S. this week for high-stakes talks as prospects dimmed for maintaining a fragile truce after President Trump threatened to raise tariffs on $325 billion of Chinese goods starting Friday. China would enact retaliatory duties on U.S. imports immediately once tariffs take effect. (Bloomberg)

Illinois House Speaker Michael Madigan is “optimistic” a constitutional amendment moving the state from a flat income tax to a graduated structure will pass the House. Other hot-topic issues this session, like legalizing marijuana, could prove to be controversial, Madigan said. Several key issues regarding legalization will be considered. (State Journal-Register)

Nielsen researchers surveying 20,000 consumers found there may be some disparity between consumers’ perceptions of local food. The survey found that while local foods topped the list of consumers’ priorities – with 46 percent of grocery shoppers saying they’re aware of the importance of buying local – many were not able to define what exactly the term should mean. (The Takeout)

Monsanto’s expert witness Dr. Robert Phalen took the stand to testify that glyphosate, the key chemical in Roundup, is not easily absorbed by the human body, citing and agreeing with the EPA’s findings on the product’s safety. The trial, investigating whether or not Roundup use was a substantial factor in causing a Northern California couple’s non-Hodgkin’s lymphoma, is the third of its kind against Monsanto. (Northern California Record)

Already way behind on planting, farmers can only watch as ongoing rainy weather continues to fill fields with moisture. Due to precipitation levels, and even snow, Illinois farmers have just 10 percent of this year’s corn crop planted, compared with 66 percent for the five-year average. (FarmWeekNow)