Grain Market Commentary 10/31/25
CBOT Pricing:
Soybeans finished up 7-9 cents from the prior settle. The Jan26 contract closed today at $11.15, up 7.25 cents since the prior settle and up 55 cents on the week. The Mar26 contract closed at $11.2325, up 7.5 cents on the day and up 50.25 cents on the week.
Corn ended the day mixed. Dec25 closed 3/4 of a cent higher at $4.31 and ended the week 8.25 cents higher. The Mar26 contract ended the week 7 cents higher while ending the day unchanged at $4.4375.
Market Headlines:
China has agreed to long term US soybean purchases:
President Trump and Chinese President Xi Jinping agreed to a trade truce earlier this week. Under the truce China will purchase 12 million metric tons of soybeans between now and January and a minimum of 25 million metric tons per year, over the next three years. In addition to this, China plans to remove tariffs on most US agricultural products. While this deal is progress, the soybean purchases China has agreed to is less than their historical levels. Over the past 5 years China has purchased, on average, 29 million metric tons of US soybeans per year.
The American Soybean Association praised President Trump for the China deal:
The ASA praised President Trump for prioritizing US farmers in the deal. The newly announced trade agreement brings relief to US farmers after months of uncertainty and slow exports.
The US canceled Trump-Putin meeting:
The United States canceled a planned meeting between President Trump and Putin in Budapest. This was done so after Russia insisted on hardline demands over Ukraine including additional territorial concessions and guarantees that Ukraine will never join NATO.
Weekly USDA Drought Monitor:
Drought condition remained most steady across the Corn Belt this last week. There was modest relief from mild rainfall in parts of Kentucky, Ohio, southeastern Kansas, central Oklahoma, and Michigan. Conditions worsened in Iowa, Illinois, and South Dakota.
US Areas Experiencing Drought:
Corn: 30%
Soybeans: 34%
Winter Wheat: 18%
Cattle: 26%
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