The Commstock Report

The Commstock Report is a twice daily market report. 09/28/2026 I am in Canada! PLEASE REFER TO THE BROKER COMMENTARY PAGE FOR UPDATES!! Click Above to Watch Brian's Afternoon Market Update Yeah…they let me in on my US passport. They have been nice to me so far. This time I came by sea as my forefathers did some 386 years ago. I used a similar route to theirs, traveling up the Saint Lawrence Seaway to Quebec City. My mother was a Demars which was the Americanized version of the French Demers. My distant grandfather came to Quebec from Dieppe France with 3 sons, one of which was our linage. They were reportedly part of a contingent of 800 French families who had their trip paid for and who were bequeathed property in Canada by the King to encourage the populating of New France. My distant grandfather got his 3 sons established in Quebec and then returned home to France which he and the rest of family then never left. Our 14-day cruise left from Boston with an itinerary of Nova Scotia, Prince Edward Island, Iles de la Madeleine, the Saguenay Fjord, Quebec City and then Portland Maine on the return. My forefathers…

09/28/2026 Devilish Details; Soybeans Excluded from China Tariff Exemptions On the Grains Grain and soy complex futures traded lower overnight, led by sharp losses in the soybean market as details emerged from last week’s trade meeting between President Trump and China’s Xi Jinping. Soybeans fell to the bottom of the month-long sideways trading range. Corn and wheat followed soybeans lower, though both remained well above last Friday’s intra-day lows. As is always the case in these trade meetings, the devil is in the details. China’s newly released list of U.S. products eligible for consideration for lower tariffs includes corn, sorghum, wheat, rice, cotton, beef, pork, poultry, dairy products, ethanol and vegetable oils and meal, including soyoil and soymeal. Soybeans for planting are also included, but non-seed soybeans — the category covering bulk shipments for crushing and food use — are absent. This doesn’t mean China won’t buy U.S. soybeans, but the extra 10% tariff on U.S. cargoes will remain, keeping a hurdle in place for purchases by Chinese commercial firms. There was no explanation for why soybeans were omitted, though it gives Beijing leverage in ongoing negotiations. Another key omission: distillers dried grains with solubles (DDGS) are not listed under…

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…