Tidbits, Soybeans Marketing Example, China Buying, Ukraine & Funds, Broilers & Ethanol 11/27/25
- Wright team
- 51 minutes ago
- 5 min read
Tidbits
China bought at least ten more shiploads of U.S. soybeans (~650,000 mts) on Tuesday according to multiple sources within the grain export trade. Eduardo Vanin of AgrInvest Commodities:
China continues buying soybeans from the U.S. Purchases have reached 67 cargoes, ~35% of the program. These purchases make no economic sense — they are political purchases. The losses on these soybeans for crush are enormous, which leads the market to think: regardless of price, the state-owned companies will buy anyway. The soybean market has been driven by political changes since February this year, when Argentina adjusted its retenciones (export tax rates).
The worst part is that soybean price formation will continue like this for a long time; more dominated by external factors than by fundamentals. I would say we have entered the era of “political soybeans."
U.S. crude inventories rose last week as imports climbed and exports fell: excluding the SPR, commercial stocks increased 2.8 million barrels to 426.9 million, about 4% below the five-year average for the period.
Ukraine: President Trump learned yesterday that the Ukrainians changed one of Trump’s Peace Treaty points from a “full audit of all financial aid Ukraine has received” to “Full Immunity and Remove Audit of International Aid.”
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