02/24/26 Soybeans Remain Key U.S./China Bargaining Chip

02/24/2026 Click Above to Watch the Morning Market Talk Video Soybeans Remain Key U.S./China Bargaining Chip On the Grains Soybeans and wheat, led by HRW contracts, extended Monday’s losses overnight. Corn continued to pivot around unchanged. Gold, silver and energy markets weakened overnight. The broad marketplace awaits more clarity on the new U.S. tariff program and the situation with Iran. With President Trump having to reshape his tariff program after the Supreme Court ruling, Chinese President Xi Jinping sees the opportunity to “reset relations with the U.S. on Beijing’s terms,” according to the Wall Street Journal (WSJ). “Chinese officials privately see an opportunity to push for important concessions during Trump’s coming trip to China, scheduled for March 31 to April 2,” WSJ reported, citing people who consult with Chinese officials. Beijing doesn’t want a new, prolonged trade war with the U.S. – its economy can’t withstand that. Beijing wants an extension of the trade truce agreed to at the end of October. According to WSJ, Chinese officials want “a rollback of existing tariffs as well as a reprieve from export controls on U.S. technology that have throttled the Chinese tech sector.” In exchange, Chinese negotiators are reportedly floating high-visibility “deliverables” to give Trump a…