An announcement overnight from President Trump is moving the agricultural commodities.
In a post to Truth Social, he says, “China is worried about its shortage of soybeans. Our great farmers produce the most robust soybeans. I hope China will quickly quadruple its soybean orders. This is also a way of substantially reducing China’s trade deficit with the USA. Rapid service will be provided. Thank you, President XI.”
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USDA’s July WASDE report projects the smallest U.S. wheat crop since 1970, tighter corn stocks, stronger soybean exports, larger cotton supplies, and higher cattle prices.
Attention now shifts toward the annual 25 million metric ton benchmark, equal to about 919 million bushels, for 2026 through 2028.
USDA adjusted accumulated beef exports down by nearly 114,000 metric tons, stating those exports were reported in error.
Cattle futures eased as traders weighed inflation and consumer demand, while robust auction activity under tight herd supplies and new export opportunities continued to support the beef outlook.
