Milling #wheat Z5-H6 spread continues to go higher and Z5 liquidation mode/fund short covering has barely started with OI down less than 50k contracts since the spread started to move. #OATT

Very bearish day for Soybean Fob Brz. CFR China no bids. China booked 14.7 Mi t for NC, 3.3 Mi t below LY. Crush Margins are worse than LY for NC and it is more difficult to sell smeal for distant delivery. #soybean

Wonder if Trump tonight will post a message to American (soybean-)farmers; "Now is a great time to sell!!! DJT" ....buy the rumors, sell the fact.

A short postponement on rare-earth is nothing in the efforts for the US to build up own production. This is a great post from Arnaud Bertrand explaining the challenges of the industry. China can buy soybean elsewhere, but the US don't have same opportunities for rare earth.

March 2020 Soybeans & Phase 1 'deal' :

🇺🇸 has the most expensive soybeans in the world during its main export window, which btw, gets smaller by the day… BuLLiSh DeMAnD!!!! 🤦🏻‍♂️

🇺🇸🇧🇩Sec Rollins said Tuesday that Bangladesh agreed to buy $1B in U.S. soybeans - 3x more than in 2024. Here's a chart by tonnage, showing total, China and Bangladesh. I did 3x the Bangladesh volume for 2024 to show what that would look like.

#EUDR: finally confirmed, #Council position on COM proposal to be discussed by EU ambassadors in #Coreper I this Wednesday morning, 10:00.

#soybeans #soja #oatt Here's one to make a Happy Veteran's Day... CHINA'S COFCO SEALS BILLION-DOLLAR BRAZILIAN SOYBEAN, PALM OIL DEALS BEIJING, Nov 11 (Reuters) - State trader COFCO's oilseed unit said on Monday it has signed agreements to purchase Brazilian soybeans, soybean

#EUDR: will a qualified majority of Member States on Wednesday morning back the mandate for negotiations with EP? EU Presidency proposes support for all targeted simplifications, as set in COM proposal and one year postponement for all operators (no 'grace period' of six months).

I finally got a chance to read this fascinating paper on productivity in China by Weijian Shan, a man who's had an incredible life, starting as a Cultural Revolution worker in the Gobi desert to today one of the world's most respected investors. One statistic blew my mind. In

#EUDR: for those who might need some help with BXL procedures 👇

Trade in soymeal, leading the rally, was very one-sided. US biofuel policy delayed due govt shutdown but not cancelled. Things went upside down since my post. MM short likely liquidated and oilshare soon to button out imo. Strength about to decrease. x.com/madskri/status…

#EUDR #Germany seems to be shifting towards support for postponement application EUDR requirements by another year (🇩🇪 abstained in Coreper last week). Next Coreper discussion on EUDR probably on Wednesday (19 Nov) instead of today.

#EUDR #EP: for interested ones that would like to follow the discussion and votes in European Parliament, #amendments can be tabled until 12:00 CET today (Friday). Acc to the final draft agenda, the EP plenary #vote is scheduled for next Wednesday (26 Nov, 12:00-13:00 CET).

#EUDR #EP: latest info on deadline for split votes, roll-call votes etc.

EPA has confirmed that the 2026 #biofuels mandates will not be finalized before the end of 2025, delaying key policy decisions on #RINs and reallocating SRE volumes. #RFS #ethanol

EU #rapeseed import is down 44% for MY compared to 5y avg. Ukr supplies into EU more or less half of last year and despite a bumper crop, import from Australia is also lagging. Inverse likely to continue until supplies are picking up. #Oilseeds #OATT

Japan is in denial. If you think you can campaign on an end to "excessive" austerity with debt at 240% of GDP, markets will teach you a harsh lesson. Yesterday, even though Japan's JGB yields shot up (blue), the Yen fell (black). This is crisis territory. robinjbrooks.substack.com/p/the-road-to-…

The day after we saw a massive jump in the metals and precious metals space, London Metal Exchange delays start of trading Friday due to technical issue. What a coincident. I suspect a lot of margin-call needs to get solved to not force a massive short liquidation.