US/China Trade Deal Phase TWO?? Could You Imagine??
US/China Trade Deal Phase TWO?? Could You Imagine??  
Podcast: Grain Markets and Other Stuff
Published On: Wed Feb 05 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.0:00 19k Subs!0:44 Another US/China Trade Deal?3:38 Argentina Crop Problems5:12 Wheat Exports and Russia8:37 Farmer Sentiment Improves9:45 More ADM Problems10:46 Stock Market Bounces11:51 Corn FlashChina May Revive Phase One Trade Deal with Trump 🇨🇳🤝🇺🇸China could be looking to renegotiate the Phase One trade deal from 2020, which aimed to increase purchases of US agricultural products like corn and soybeans. Trump’s recent 10% tariff on Chinese imports has sparked speculation about a new deal, encouraging buying in the markets. China is expected to fulfill its commitment to increase US agricultural purchases if an agreement is reached. 🌽Argentina’s Crop Outlook Turns Bleaker 🌾☀️Drought conditions in Argentina have caused concerns about corn and soybean crop yields. Forecasts have been reduced, with yields potentially falling to 40mmt if dry weather persists. Farmers remain hopeful for rain in the coming weeks, but the extent and timing are uncertain. 🌧️Sovecon Raises Russia’s Wheat Export Outlook 🌾🇷🇺Sovecon has increased its forecast for Russia's wheat exports to 38.3mmt, a 5.2% rise from its previous estimate. Despite a mixed outlook on crop conditions, Russia's winter grains are performing better than expected after tough weather last year. ❄️US Farmer Sentiment Improves Despite Trade Concerns 🚜📈US farmer sentiment improved in January, with the Purdue/CME Group Ag Economy Barometer Index rising to 141. While concerns about trade wars remain, 42% of farmers believe trade policy will be crucial to their operations over the next five years. 🌱ADM Plans to Cut Costs After Profit Decline 💼📉Agricultural giant ADM is planning to cut costs by $750 million over the next three to five years, including job cuts and selling off underperforming sectors. This comes after a poor fourth-quarter profit and a financial scandal. 💔Stock Market Recovers After Tariff Suspension 📈💵The stock market bounced back, with the Dow Jones up 0.3%, the S&P 500 increasing 0.7%, and the Nasdaq rising 1.4%. The market was buoyed by Trump’s suspension of tariffs on Canada and Mexico, along with a strong performance from Palantir. 📊USDA Reports Flash Sale of Corn 🌽🚢US exporters sold 132,000mt of corn to South Korea, continuing strong export sales. Year-to-date corn sales are up 28% compared to last year. 🚜