Soybeans– Soybeans were today, as China cut the tariff on US soybeans from 23% to 13%. Hopefully China can get more soybean purchases done before the end of the year. The purchases made by China thus far haven’t been anything major but they’ve helped prices move in the right direction. Bessent said yesterday that Trump and Xi may meet in …
Soybeans Trade Lower, Wheat Continues Higher on Tuesday
Soybeans– Soybeans saw profit taking today, which isn’t surprising as soybeans have been trading higher since mid-October. Soybean buying from China is expected to pick up in December or January. China is still making soybean purchases from Brazil, as Brazil has cheaper soybeans due to the recent rally. Managed money did heavy buying over the past 6 sessions, going long …
The Grains Move Higher, Profit Taking in Soybean Meal
Soybeans– The news of China deciding to buy US soybeans has really helped soybean prices move in the right direction, closing higher again today. China has agreed to purchase 12 mmt for the current marketing year and at least 25 mmt over the next 3 years. In 2024, China imported nearly 27 mmt of US soybeans. 7 cargoes or 430k …
WRT World Agricultural Supply and Demand November 2
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Soybeans Continue Higher to End the Week
Soybeans– Soybeans closed higher on Friday continuing the rally. The rally is because of Chinese soybean purchases following the APEC Summit. It was reported that China bought 4 more cargoes of soybeans from the US yesterday. The APEC Summit resulted in an agreement that China would by 12 mt during the current export window and 25 mt each year for …
Soybeans Flip Green to Continue the Rally on Thursday
Soybeans– Trump’s meeting with China was successful. China has agreed to purchase 12 mmt for the current marketing year and 25 mmt over the next 3 marketing years. The APEC Summit also resulted in other countries agreeing to buy 19 mmt. Ahead of the meeting China bought 3 cargoes of domestic soybeans, but the total quantity was only 180k tons. …
President Trump Meets With Xi Tonight, Can a Trade Deal Be Confirmed?
Soybeans– Trump is meeting with Xi tonight, so more important trade developments should be coming out soon. Soybeans sold off some today, but soybean meal continues to trade higher. China has reportedly only bought 3 cargoes of US soybeans. US Gulf and PNW export bids are rising due to China demand. If a deal is confirmed there is no guarantees …
Soybeans Trade Higher With Profit Taking Happening Above 1100
Soybeans– Trump is expected to make a deal with China soon, a framework for a deal is said to be in place. Trump is meeting with Xi at the APEC Summit on Thursday. We could still see soybeans sell once a deal if confirmed, as there has been heavy buying on the likelihood of a deal being completed. If a …
China Progress Sends Grains Higher
Soybeans– Soybeans rallied hard in the overnight session, trading 17 cents higher. During today’s session soybeans rallied even harder. Be aware of possible “buy the rumor, sell the news” trading once a trade deal with China is confirmed. Trump will meet Xi on October 30th. And Canada’s Careny is said to be open to trade talks with Trump, after Trump …
World Agricultural Supply and Demand October 26
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