Tidbits, S&D Estimates, China, Wheat, Crop Progress, ENSO, Export Inspections 11/10/26
Tidbits
The USDA will issue its November S&D at 11 AM Central Time today. It will include a crop production report, which will be the last crop production report until January. The USDA will issue a December S&D as normal with world production and demand revisions, but only demand revisions for U.S. crops.
China extended its trade truce with the U.S. by two months yesterday after announcing it would continue to suspend certain trade measures. The trade truce was due to expire today. Chinese President Xi Jinping and President Trump are scheduled to meet for the third time this year, at the APEC leaders’ summit in China next week.
After September’s Washington summit between Trump and Xi, both sides proposed a $60-billion package of reciprocal tariff cuts, including roughly $17 billion worth of US farm goods as China imported in 2024, though the plan has yet to be finalized.
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