Trump-Xi Meeting Looms Large Over Grain Markets Amid Stronger Trade Talk Hopes

Wheat and corn futures rose on September 21 after US and Chinese officials described their initial trade discussions as constructive, giving agricultural markets reason to anticipate stronger Chinese demand for American farm products.

The most-active Chicago wheat futures gained up to 2% during the session, its largest intraday increase in nearly two weeks. This matters for US farmers because markets are increasingly focused on whether this week's meeting between President Donald Trump and Chinese President Xi Jinping will produce concrete commitments to buy additional US agricultural commodities.

US Treasury Secretary Scott Bessent characterized Sunday's discussions as 'very successful,' while China's top trade negotiator, Li Chenggang, said the talks took place in a positive atmosphere. The comments quickly filtered into commodity prices ahead of the Trump-Xi meeting scheduled for Thursday in Washington.