Farm Financial Stress/Bankruptcies Build + China Buys MORE Soybeans
Farm Financial Stress/Bankruptcies Build + China Buys MORE Soybeans  
Podcast: Grain Markets and Other Stuff
Published On: Fri Nov 21 2025
Description: Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links—Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.🌦️ Weather & Drought UpdateMost of the Corn Belt stayed dry last week. Drought intensified in eastern IA/IL, northern MN, and big portions of WI.• Illinois: 74% in drought, 4.5% extreme• High Plains: Warm & dry; worsening in eastern NE & southern OKUS Areas in Drought: Corn 32% • Soybeans 33% • Winter Wheat 41% • Spring Wheat 18% • Cattle 33%💰 Farm Financial StressThree straight years of falling profits have pushed the Midwest into a financial crunch.• Iowa bankruptcies doubled vs last year• U.S. bankruptcies up nearly 60% YoY, mostly Chapter 12• Only 48% of Corn Belt farmers expected to turn a profit in 2026 (down from 52%)Some analysts now compare this downturn to the 1980s Farm Crisis.🚢 China Purchases & Export SalesFlash Sales Thursday:• 462,000mt soybeans → China (25/26 MY)• 132,000mt white wheat → China (25/26 MY)• China has now bought 1.8mmt US soybeans since Nov 1 for current MYBrazil & Argentina Shipments:• Brazil → 7.1mmt to China in Oct (+29% YoY)• Argentina → 1.6mmt (+15% YoY)• U.S. → 0mtChina imported a record 9.5mmt of soybeans in October but has recently ramped up US buying, covering ~15% of its truce commitment.📦 Export Sales SnapshotCorn: 2.3mmt — up 62%, Japan biggest buyerSoybeans: 919,400mt — up 6%, Egypt biggest buyerWheat: 887,900mt — up 181%, Mexico biggest buyer🐂 Cattle MarketsCattle futures sold off sharply again Thursday on fund pressure and lower cash. Fundamentals remain strong, but technicals continue to dominate.• Trump is pushing lower beef prices• Today’s Cattle on Feed expected to be bullish• Trump removes 40% tariff on Brazilian beef—likely increases imports & pressures prices further