Grain Markets TANK on Lack of China News - "Speculators Gonna Speculate"

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.🇺🇸🇨🇳 Trump meets Xi in China—traders were hoping for a BIG soybean announcement, but the news fell flat… at first. Treasury Secretary Bessent says the existing 25MMT/year deal through 2028 is enough, sending soybean futures tumbling 24 cents to $11.84/bu. BUT—Trump hinted China will buy "a lot" of US farm products, and Trade Rep. Greer expects a double-digit billion-dollar ag purchase agreement over the next 3 years. Stay tuned. 👀🌾 Kansas Wheat Tour delivers tough news — average yield projected at just 38.9 BPA, a 3-year low and well below the 5-year tour average of 45.5 BPA. Total production estimated at only 218M bushels, down from 338.5M last year. Drought abandonment could hit 20%. 😬🌧️ Drought continues to expand across the Plains — Nebraska is in rough shape, with 94% of the state now under some level of drought, including 10% in exceptional drought. Winter wheat is taking the hardest hit, with 71% of acres affected nationwide. 🔥⛽ E15 expansion debate heats up — The National Corn Growers Association says expanded E15 sales could mean $5+/acre in net benefits for corn & soybean farmers. The American Soybean Association flip-flopped this week—first opposing it, then supporting it with conditions. 🌽📦 Export sales disappointing—Corn sales down 50% week-over-week, soybeans hit a second straight marketing year low. Wheat was the bright spot, up 70% from the prior week. 📉📈