China

In what it calls a comprehensive action plan for agriculture security, USDA unveiled seven critical areas the Trump administration will address, and securing and protecting U.S. farmland from being owned by China topped that list.

Chinese exports to ASEAN countries and the European Union have jumped.

Arlan Suderman, Chief Commodities Economist with StoneX, says funds sold aggressively and erased almost all of last weeks gains, as they came back from the holiday and saw no threat in the weather forecast.

Brad Kooima, Kooima Kooima Varilek, says cattle futuresare showing resilience early Monday due to better than expected cash trade. However, grains are seeing heavy selling pressure.

Mark Schultz, Northstar Commodity, says corn and soybeans saw follow through technical buying and short covering heading into a three day holiday but were also trading hopes for a positive trade announcement on China from President Trump.

Scott Varilek of Kooima Kooima Varilek says cattle futures are trading higher building on Wednesday’s big reversal which was initially triggered by trade news but then better than expected cash trade added to the rally. Grains are also higher on hopes of an announced deal with China.

USDA Secretary Brooke Rollins was questioned by several House Ag Committee members about USDA’s cuts, including the impact of the 6,000 DOGE firings at the agency, that were later reinstated by the court.

Craig Turner with StoneX says the markets were initially charged by news the U.S. and China had reached a trade framework. However, the deal was lacking in detail just like so many of the trade deals touted by the administration.

Scott Varilek, Kooima Kooima Varilek, says cattle futures gapped higher on the opening Friday and made all-time highs once again. Futures are still chasing record cash.

Jeff Hoogendoorn, with Professional Ag Marketing, says hogs ended mixed Wednesday, consolidating after the recent rally driven by higher cash and cutouts. While soybeans rallied after the Trump/Xi call.