Soybeans RALLY on China Buying and "Non-Stop" Corn Belt Heat

Joe's Premium Subscription: https://standardgrain.com/ Apple Podcasts https://podcasts.apple.com/us/podcast... Spotify https://open.spotify.com/show/4NJ9AZc... 0:00 China Buys Soybeans 4:21 Trump/Xi Meeting 5:32 Row Crop Rally, Charts 9:20 The Funds 10:32 Crop Conditions and Overnight Temps 14:29 Corn/Soybean Shipments 🌱 China Returns to US Soybeans: China's COFCO purchased 300,000mt of US soybeans Monday, its largest buy in months, with volume potentially reaching 600,000mt as more deals finalize. 📊 Despite the move, China has only committed to about 2% of the 25mmt annual target agreed to last fall. 🤝 Xi-Trump Meeting on the Horizon: President Trump says Xi Jinping may visit Washington around September 24, coinciding with the UN General Assembly. 🏛️ The visit comes as the two nations navigate a fragile trade truce, with tariffs, Taiwan, and Middle East tensions still simmering in the background. 📈 Grains Rally on Weather & Demand: Corn and soybean futures surged Monday, with Dec26 corn hitting its highest close since early June and Nov26 soybeans reaching their best level since late May. 🌧️🔥 The rally was fueled by scorching Corn Belt heat forecasts plus flooding in Iowa, Illinois, and Wisconsin, alongside renewed optimism over Chinese demand. 💰 Funds Turn Bullish: The latest CFTC Commitment of Traders report showed money managers net buying corn, soybeans, and SRW wheat for the week ending June 30. 📅 It marked the first time since late April that funds were net buyers of both corn and soybeans simultaneously. 🌽 Crop Conditions Steady: US corn conditions held at 67% good-to-excellent, unchanged week-over-week but still below last year's pace. 🌾 Soybeans dipped slightly to 64% while winter wheat harvest raced ahead at 59% complete, well above the average pace. 🔥 Record Overnight Heat Alert: CropProphet's data shows the June 29–July 4 stretch brought the warmest overnight temperatures on record for corn-producing regions since 1981. 🌡️ While daytime highs were merely top-4 historically, those scorching nighttime lows are now a key risk factor to watch as the crop develops through July. 🚢 Export Shipments Mixed: Corn export inspections beat expectations at 1.6mmt, up 5% year-over-year, while soybean shipments jumped 32% versus last year with China driving half the volume. 📉 Wheat shipments disappointed, falling 66% week-over-week and 74% below last year's pace.