🇨🇳 Markets Dump as China Buying Still Doesn’t Materialize
Grain markets continued their sharp liquidation selloff today
Traders had heavily loaded up expecting:
Massive Chinese grain buying
Strong export announcements
Follow-through from Trump’s China meetings
Instead:
No major ag purchases announced yet
Markets continued purging bullish positions
📌 Main frustration:
China is supposed to buy around 25 million metric tons of new crop soybeans
At today’s prices, that equals roughly $12 billion
🌱 Soybean Meal Holds Strong Despite Bean Weakness
Italy unexpectedly bought:
150,000 metric tons of U.S. soybean meal
Why?
Ongoing phytosanitary issues with South American shipments
Argentina still dealing with the major crushing plant fire
Europe looking for more reliable supply
📈 Soybean meal:
Initially up about $10/ton
Finished still higher on the session
Current soybean prices:
July beans down 15¾¢ → 11.76¾
Products:
July soybean meal up $1.90
Bean oil up 16 points
