China Buys MORE - "Soybean Farmer" Bessent says they're On-Schedule

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.🇨🇳 China Steps Up US Soybean BuyingChina made major purchases of US soybeans this week. Since Tuesday, Chinese buyers have booked an estimated 10–15 cargoes — roughly $300 million in value. These sales followed President Trump’s call with Xi Jinping, during which Trump urged China to accelerate purchases, and Xi largely agreed. All cargoes are slated for January shipment out of Gulf Coast and PNW ports.Treasury Secretary Scott Bessent said Tuesday that US soybean exports to China are “right on schedule.” The Trump administration claims China has agreed to buy 12mmt before Jan 1 and 25mmt annually for the next three years. China has not officially confirmed these numbers, but Ag Secretary Brooke Rollins expects confirmation in the coming weeks.🕊️ Ukraine–Russia Peace Framework?Multiple sources say Ukraine is ready to move forward with a US-backed peace framework. The original US proposal — once 28 points and seen as favorable to Russia — has been cut to 19 revised points after input from both sides.Russia has not yet confirmed its position, and major terms are still unresolved. US officials will continue negotiations this week.📊 CFTC Fund Positioning UpdateCFTC released another delayed Commitment of Traders report:Funds sold 54k corn contracts → net short grows to 188k, the largest since early July.Funds sold 1k soybean and 15k SRW wheat contracts.SRW wheat net short of 111k is the biggest since mid-May.Private estimates for yesterday’s close:Corn: –110kSoybeans: +120kSRW Wheat: –65kCFTC expects to be fully current by late January. Charts below.🚢 USDA Export Sales (Catch-Up Report)For the week ending Oct 9:Corn: 1.3 mmt—down 41%Soybeans: 785k mt—down 15%Wheat: 613.9k mt—down 31%Mexico was the top buyer across all three. 🎰 Online Betting Risks Are GrowingBank of America warns that online betting and prediction markets are driving higher debt loads, especially among low-income consumers and young men.Research shows:Lower credit scoresHigher bankruptcy ratesMore debt going to collectionsPrediction markets have surged, letting people bet “yes/no” on everything from elections to sports.