Grains set to start steady to slightly stronger as traders await word on Chinese trade concessions. In the Headlines The outcomes of President Trump’s meeting with Chinese President Xi Jinping have been relayed by U.S. Treasury Secretary Scott Bessent announcing a two-month extension of the current trade truce and Trade Representative Jameison Greer saying that there would be more details about tariff relief coming Monday. A “more favorable tariff treatment for $30 billion of non-sensitive goods” was referenced in a White House Fact Sheet released on Friday. The release mentioned the Board of Trade “addressing market access barriers in the agricultural sector,” but the fact sheet otherwise lacked specifics. President Trump commented that he will be meeting again with Xi in November at the Asia Pacific economic conference in China and then in December at the G20 summit in Miami. Negotiations with Iran reached another impasse as President Trump rejected the latest proposal to reopen the Strait of Hormuz. An Iranian military official threatened attacks on U.S. ships in the Indian Ocean if fighting resumes. Meanwhile, Houthi attacks against Saudi Arabia continued. Monetary policy will be in focus with this week’s reports on inflation and employment. Several central bank officials…
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