🌱 Soybeans Showing Surprising Strength
Beans led the grain complex higher today
July soybeans:
Up 8¼¢ → 11.93¼
November soybeans:
Up 10¾¢ → 11.92¼
📈 Big story:
New crop November beans nearly equal to old crop July beans
That spread has narrowed by roughly 40¢ over the past month
📌 What the market may be signaling:
Bean acreage may not increase much on the June 30 acreage report
Corn acreage likely staying strong
🇨🇳 China Tariff Talk Back in Focus
Market rumors continue:
China may soon lower tariffs on U.S. grains
Current tariffs:
Soybeans → 10%
Corn & wheat → 15%
Some traders think:
Purchases could begin next week
Others think:
China waits until July or August
📌 Market feeling:
China enjoyed the recent grain selloff and lower prices
