CBOT:
Soybeans found early support after reports indicated that US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are scheduled to meet in mid-March. Later in the session, risk off trading pressured prices, but the market recovered into the close. The May26 contract settled 7.5 cents higher at $11.705, while Jul26 futures gained 7.25 cents to finish at $11.8325.
Corn ended the day 0-2 cents higher, finding support from strength in soybeans. The May26 contract closed 1/2 cent higher at $4.465. Jul26 futures added 1.25 cents to settle at $4.555, and the Sep26 contract gained 1.5 cents to close at $4.57. The Dec26 contract traded to an intraday high of $4.7425, the highest level since June, before ending the session 1.25 cents higher at $4.7125.
Market Headlines:
US and Chinese officials are expected to meet in mid-March:
US Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng are scheduled to meet in Paris at the end of next week to prepare for the planned summit between President Donald Trump and President Xi Jinping. Discussions are expected to cover potential Chinese purchases of Boeing aircraft and additional US soybeans, as well as broader issues including Taiwan and the future of US fentanyl-related tariffs that the Supreme Court recently struck down.
The meeting signals that both sides intend to move forward with preparations for the Trump-Xi summit despite the American strikes on Iran, which China has opposed.
The US Trade Representative’s office announced trade policy agenda and annual report:
On March 2, US Trade Representative Jamieson Greer delivered the President’s 2026 Trade Policy Agenda and the 2025 Annual Report to Congress. The agenda outlines plans to address deficiencies in the USMCA and pursue a more balanced bilateral trade relationship with China. It also prioritizes finalizing framework agreements with the European Union, India, Japan, North Macedonia, South Korea, and others. In addition to, finalizing trade deals with Argentina, Bangladesh, Cambodia, and others.
Furthermore, the administration will evaluate the need for new Section 301 investigations to address unfair trade practices. The report also emphasizes efforts to strengthen domestic supply chains. Specifically, it highlights plans to reshore production of critical minerals, semiconductors, auto parts, pharmaceuticals, medical equipment, metals, and energy technologies.
President Trump announced that the US Navy will escort tankers through the Strait of Hormuz if necessary:
As tensions escalate in the Middle East, crude oil prices have moved sharply higher while equity markets have traded lower amid heightened geopolitical uncertainty. In response, President Trump stated in a social media post that “no matter what, the United States will ensure the free flow of energy of the world,” and said the U.S. Navy would escort tankers through the Strait of Hormuz if necessary. He also directed the US Development Finance Corporation (DFC) to provide insurance support for maritime trade.
The remarks come as military actions in Iran intensify concerns about global energy security, particularly given that roughly one-fifth of the world’s oil supply transits through the Strait of Hormuz.
Let’s Talk!
Yield365 – Grain Marketing Simplified
Call: 815.823.2522
Click HERE to learn more
Click HERE to view previous market commentary
Disclaimer: The risk of using futures and options can be substantial and individuals must consider whether they are suitable for their operation. Marketing advice is based on information obtained from third-party sources and is believed to be reliable but not guaranteed by Yield365. Past performance is not necessarily indicative of future results. Marketing advice reflects our good faith judgement at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.
