Overview
- Chicago soybeans touched $10.91 per bushel intraday on Tuesday and closed up 11 cents at $10.78¼, marking a fresh multi‑month peak after a two‑day surge.
- President Trump touted a prospective U.S.–China deal and Treasury Secretary Scott Bessent said China would make “substantial” soybean purchases, with a Trump–Xi meeting expected Thursday in South Korea though Beijing has not confirmed.
- Corn and winter wheat extended gains on short covering, with December corn settling at $4.32 and CBOT and KC wheat building on Monday’s double‑digit advances into Tuesday.
- Live and feeder cattle collapsed using expanded CME limits on Monday, early cash trade slid to about $230, and feeders fell further Tuesday as long liquidation continued and expanded limits remained in effect.
- With USDA and CFTC reports on hold, Export Inspections showed soybean shipments at 1.061 MMT last week, down sharply year over year with China absent, while private data tracked planting progress in Brazil and Argentina.