As of 9 a.m. CT, December corn was up 5¼¢ at $4.28½ per bushel.
January soybeans were up 22¾¢ at $10.83 per bushel.
December CBOT wheat was up 14¼¢ at $5.26¾ per bushel. December KC wheat was up 12¢ at $5.13½ per bushel. Just before 9 a.m. CT, December Minneapolis wheat was up 7¢ at $5.64.
“Soybeans are trading sharply higher this morning following the framework trade deal between U.S. and Chinese trade negotiators,” said the Commstock Report this morning before day trade opened. “Corn and wheat are also trading solidly higher.
“After two days of intensive talks in Malaysia, Treasury Secretary Scott Bessent announced that the U.S. and China reached a ‘very substantial framework’ to avert President Trump’s threatened 100% tariffs on Chinese goods. In return, China is expected to delay its planned export-control regime on rare-earth minerals for one year and resume large-scale purchases of U.S. farm commodities. The deal is expected to be finalized by President Trump and Chinese leader Xi Jinping when they meet in South Korea on Thursday.
“Soybeans appear to be the clear winner. While no precise tonnage has been disclosed, Bessent said U.S. soybean farmers ‘will feel very good, both for this season and the coming seasons for several years.’”
Ahead of 9 a.m. CT, January feeder cattle were down $13.75 at $334.43 per cwt.
As of 9 a.m. CT, December live cattle were down $5.10 at $228.83 per hundredweight (cwt). December lean hogs were down 5¢ at $81.85 per cwt.
December crude oil was up 30¢ at $61.80 per barrel.
The U.S. Dollar Index December contract was down to 98.68.
Ahead of 9 a.m. CT, the S&P 500 Index was up 60.16 points, and the Dow Jones Industrial Average was up 255.54 points.
Published: 9:26 a.m. CT
