Just heard on the news China is going to start buying soybeans from the USA maybe prices will go up.

Good news, for sure!

I'm a net buyer of beans, so this works against me personally, but the crop guys need it.

Corn and soybeans low cattle 220 /100 , really !

Is this due to POTUS meeting with Xi Jinping in the last couple days ?

Yes
On the heels of U.S. President Donald Trump's meeting with Chinese President Xi Jinping, Treasury Secretary Scott Bessent told FOX Business' Maria Bartiromo that China has agreed to purchase millions of metric tons of U.S. soybeans in the coming years.


During an appearance on "Mornings with Maria," Bessent said China agreed to purchase 12 million metric tons of the crop "during this season," which he indicated is "between now and … should be January."

He then added China should purchase at least 25 million metric tons of soybeans each year during the next three years.

I am torn on why.

Should we trade with them for the sake of peace? Yes.

Can they be trusted to have the same intentions? No.

Is this delaying the inevitable? Maybe.

This is a hard diplomacy game we are playing.

I know it helps the farmers which I am all for in the short-term. But China plays the long game and sacrifices for the sake of future endeavors beneficial to China.

This is a really hard call for me to be in favor of but I know there are more pieces to this puzzle I don't understand. I guess maybe it is creating a dependency so China will have to play nicer than they would otherwise for the sake of feeding their people.

Just spitballing. IDK.

Winning

Good, send more estrogen to China for the masses.

Hope it works out. Won't be much for the remainder of this year if things hold up. The Chinese can use this as leverage when working with Brazil and Argentina where they buy most of their soybeans and will buy more in the future. If the bio desiel gets larger then our prices will rise above what they will be wanting to pay.
25 million metric tons is roughly 900 million bushels of beans per year which is about 20-25% of our typical crop. That is what they had traditionally purchsed historically. I don't know how much the deal(s) are dependent upon price. we will see.
Bryce

“Two years ago, President Donald Trump signed what he called a "historical trade deal" with China that committed China to purchase $200 billion of additional US exports before December 31, 2021. Today the only undisputed "historical" aspect of that agreement is its failure. One lesson is not to make deals that cannot be fulfilled when unforeseen events inevitably occur—in this case, a pandemic and a recession. Another is not to forget the complementary policies needed to give an agreement a chance to succeed.

In the end, China bought only 58 percent of the US exports it had committed to purchase under the agreement, not even enough to reach its import levels from before the trade war.[1] Put differently, China bought none of the additional $200 billion of exports Trump's deal had promised.”

Source: Petersen Institute for International Economics

Everyone knows China can't be trusted, yet we continue to rely on them for trade. We need to ween ourselves from this stupidity.

Maybe leverage economics doesn’t work?

What exactly does this mean?

11.03 for November delivery

It means that as a livestock guy who uses soybean meal as a protein source for my animals, the prospect of soybean prices going up can very well increase my cost of production. The price of beans lately has been quite low, which is a advantage to me, but it is too low for many of the crop farms who produce the beans. They need price advancements to make them very profitable.

We should trade soybeans for rare earth minerals. Both come from the ground, right?

I hope you bought on the board for protection, but I’m glad for the possible increase.

One of the trade “deals” is that China stop selling fentanyl ingredients. The problem here is the demand for fentanyl. The US demand for illegal drugs is driving the sale, not that China is actively fueling the drug trade. It’s no different than going after the grocery store because everyone in the neighborhood is obese.

Until the demand for illicit drugs goes down, there will always be suppliers of ingredient chemicals.

I think I heard Japan agreed to pick up some slack and buy beans.