09/15/25 U.S., China Relationship Complexities Muddy Talks

09/15/2025 U.S., China Relationship Complexities Muddy Talks On the Grains Corn, soybeans and wheat pulled back from Friday’s gains during overnight trade. After an upside breakout from the short-term consolidation range on Friday, December corn futures are holding above previous resistance so far this morning. November soybeans are in the middle of the range from the August high to the Sept. 4 low. Wheat futures remain anchored near their recent lows. While traders are still scratching their heads over USDA’s increases to corn and soybean harvested acres, market focus will be on U.S./China trade talks and the Fed’s expected midweek interest rate cut. Top trade negotiators from the U.S. and China are meeting for a second day in Madrid, Spain. Chinese officials are lobbying for a visit by President Donald Trump to China, seeing it as a major diplomatic win for President Xi Jinping. While TikTok’s U.S. future is the centerpiece of the Madrid talks, as it faces a Wednesday deadline to separate from parent company ByteDance, China’s agricultural purchases, especially soybeans, are also a focus. Trump has pressed Beijing to commit to a sharp increase in U.S. soybean imports. However, China has yet to act on the request, with…