Grain Markets Swing on Trade Talks and USDA Report

Grain markets were mixed last week as traders watched U.S.-China trade talks, Black Sea developments, and the upcoming USDA quarterly grain stocks report.

The U.S.-China trade summit extended the existing truce by two months, moving the revised expiration date from November 10 to January 10, 2027. However, traders were still waiting for details on China's commitments to purchase U.S. agricultural products.

Corn ended slightly higher, while soy meal and oats reached new contract highs. Soybeans advanced, but soybean oil declined. Canola finished higher, and all three major wheat contracts closed lower.

Livestock markets were mixed, with cattle futures gaining and lean hogs recovering from the previous week's lows before facing renewed demand concerns.