Tidbits, Soybeans Basis & Marketing, Cattle Prices & Imports, Grain Estimates 10/24/25
- Wright team
- 9 minutes ago
- 5 min read
Tidbits
Chinese and U.S. officials will be meeting this weekend to prepare the agenda for next Thursday’s meeting of Trump and Xi to discuss “important issues”.
Yesterday afternoon, Reuters reported that the Chinese oil majors have suspended purchases of Russian oil due to the U.S. sanctions. It seems like questionable news, because yesterday, commenting on U.S. sanctions against Russian oil companies, a representative of the Chinese Foreign Ministry stated at a briefing that China consistently opposes sanctions that have not been approved by the UN Security Council. Are U.S. vs. China trade tensions calming down or getting heated ahead of next Thursday's Trump-Xi meeting?
Markets: Crude oil was up $3.29 yesterday. Corn and beans were following crude oil higher yesterday. Wheat was supported by higher corn and, to a lesser extent, higher beans. All three compete for acres.
U.S. President Donald Trump has said he is immediately ending all trade negotiations with Canada.
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