🇨🇳 China Talks Trigger Sharp Grain Selloff
Markets were heavily positioned for bullish news from the Trump/Xi meeting
But after last night’s talks:
Agriculture exports were NOT discussed
📌 Result:
Traders who were long the market started liquidating fast
Selling accelerated during the daytime session
Even with:
A fresh sale of 250,000 metric tons of soybeans to an unknown destination
Markets still sold off aggressively
🌽 Corn Drops Hard
Corn sharply lower across the board
July corn:
Down 13¾¢ → 4.67
December corn:
Down 12¼¢ → 4.90¾
📌 Market frustration:
No fresh export news from China
Seasonal pressure as we move deeper into May
Still lurking underneath:
Concerns over Brazil’s corn crop
But market ignoring that for now
