US-China Trade Truce Extension Boosts Soybean and Corn Prices

Soybeans and corn prices ended the week mixed, but overall in positive territory. Soybean futures were mostly weak, but managed to close out the week with gains due to a solid buying interest. The trade truce extension between the US and China had little immediate impact on commodity prices, although there is anticipation that actual details may be revealed early next week.

China has already acquired about half of its pledged purchase total in US soybeans for the 2026/27 marketing year. However, market participants are still waiting to see how the trade agreement will affect commodities. The USDA's weekly crop progress and condition report is scheduled for Monday afternoon.

Corn prices were steady to firm, with the most active months closing out the week with fractional gains. Corn reacted negatively to the early lack of specifics from the trade meeting while watching harvest activity, eventually finding its footing. More harvest delays are probable in parts of the Corn Belt over the next several days.