11/30/2025 Sunday Market Preview

Corn and soybeans are called mildly stronger in follow-through of a strong finish Friday. Wheat closed mostly weaker and will wait to see if a direction is sustained for the rest of the grain market. In the Headlines USDA reported 312,000 metric tons of soybeans sold to China on Friday, which was short of expectations for up to 1 million tons. More confirmation of previous business is awaited this week. Last week featured comments from U.S. Treasury Secretary Scott Bessent stating that Chinese ag purchases were “right on schedule,” prompting renewed consideration of his previous target for 12 mmt of soybean exports by January. Both he and USDA Secretary Brooke Rollins were cited for suggesting that the U.S.-China trade agreement could be officially signed by this week, if not by Thanksgiving. The Supreme Court is expected to issue a ruling on tariffs by the end of the year. Reciprocal tariffs implemented by President Trump under the International Emergency Economic Powers Act were challenged and overturned this summer before the appeal was heard by the top court. Event-contract odds of the tariffs being upheld are down to around 28 percent, which increases the likelihood of refunds being required for up to…