Tidbits, Soybeans to China, Urea, Argentine Crops, Freight Rates, Weather, Export Sales 5/22/26
- Wright team
- 2 days ago
- 4 min read
Tidbits
The CBOT grains will not trade again until Monday evening after the markets close today. The energy, equities, and interest rate futures will open normal times on Sunday. Energy futures will quit trading at 1:30 PM Monday and interest rate and equity futures will halt trading at noon Central Time Monday.
China’s peak U.S. agriculture import year of $38 billion was 2022. They bought just $8 billion worth of agriculture products in 2025.
Eduardo Vanin of AgrInvest Commodities of Brazil reported that China has bought 22 soybean cargoes for the Sept-Dec delivery window so far. Last year and the previous year, China had not bought any Brazilian beans for those months, as those are the months China is usually shipping beans from the United States. In 2023-24, the U.S. had sold 18 cargoes for the same window by this time.
On 15 January 2020, China signed Phase One Trade Deal but only imported 60% of total commitments and no one ever mentioned the Phase Two Trade Deal that was also signed on 15 January 2020. Meanwhile Brazil captured 71% of China’s soybean market.
Urea June futures settled yesterday at $542.50, down $147.50 from a month ago. That is the barge price of granular urea at the Gulf. Do not get sucked into the idea that nitrogen will be more expensive next spring than it was this spring. When the Strait of Hormuz is open, and more DEF manufacturers switch to producing nitrogen fertilizer, nitrogen will be a reasonable price once again.
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