Trump/Xi Call + Cattle All-Time Highs
June 6, 2025
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🌱 Soybeans Climb on Trade Hope
Soybean futures popped on Thursday! 📈 The July25 contract gained nearly 7¢, settling near $10.52 after a phone call between President Trump and President Xi reignited optimism around US-China trade talks. 🤝 A face-to-face meeting could be next!
🌾 Grains Mixed on Geopolitics
Chicago wheat added 2¢ 📊 amid rising Ukraine-Russia tensions, while corn futures ticked higher 🚜 but were capped by sluggish US export demand.
🔥 Drought Monitor Update
The Corn Belt stayed mostly dry last week, worsening drought in IA, IL, MO & WI. 🌵 But only 10% of the region remains in drought—down from 32% earlier this year! The High Plains got relief thanks to widespread rains. ☔
📊 Current Drought Impact:
• Corn: 21%
• Soybeans: 16%
• Winter Wheat: 12%
• Spring Wheat: 19%
• Cattle: 21%
🐮 Cattle Prices Hit Record Highs!
Feeder & live cattle contracts soared to new records! 🚀 Front-month live cattle jumped $4.50 to $222.90, while feeders surged $5.28 to $309.15. Strong fat cattle prices, tight supplies & current feedlots = 🔥 fundamentals.
🚢 US Export Sales Recap
• 🌽 Corn: 37M bu – Up 3% W/W, Mexico top buyer
• 🌱 Soybeans: 7M bu – Up 33% W/W, Bangladesh top buyer
• 🌾 Wheat (25/26): 16M bu – Down 37% W/W, unknown buyers dominate
📉 Record Drop in US Trade Deficit
The US trade gap fell by a record $76.7B in April, landing at $61.6B. 📉 Imports plunged 16.3% while exports rose 3% as businesses braced for tariffs. Biggest deficit drops came vs. China, the EU, and Vietnam. 🌍
📈 Jobless Claims Rise Again
Initial jobless claims rose to 247K—highest since October. 📊 Continued claims dipped slightly but still sit above 2024 levels. Slowing hiring, trade anxiety, and lower consumer demand = labor market stress. 😬
📌 Stay tuned for more charts, maps, and insights below. Don’t forget to like & subscribe for real-time grain market updates! 👇💬
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