11/02/2025 Sunday Market Preview

Grains look set up for light back and fill action to start the week. Traders will continue to respond to the follow-through or lack thereof on Chinese crop purchases. In the Headlines China headlines had January soybean futures rallying 55 cents last week to finish higher for a third week in a row. December corn gained 8 1/4 last week and Chicago wheat was up 21 1/2 cents. December live cattle dropped $4.25 and November feeders were down $15.42. December hogs were down just 62 cents but went lower for a fifth straight week. Private sources have reported up to seven cargos of U.S. soybeans sold to China amid the trade agreement, which was only a small start toward what the treasury secretary said China has promised to buy before the end of the year. Soybean price action into the new week will stay guided by speculation about new sales to China, which are not being reported officially during the shutdown. With China’s state-owned grain buyers expected to build a reserve with U.S. beans, it was wondered whether a multi-million ton purchase would be announced by Chinese officials for a show of follow-through. Soybean basis should indicate how much the…