09/25/25 Well…That Didn’t Take Long!

09/25/2025 Well…That Didn’t Take Long! Morning Market Talk Due to technical issues there will not be a Morning Market Talk today. On the Grains Soybeans firmed overnight as Argentina reinstated its ag export taxes, though the damage to U.S. soybean exports during our peak season was already done, and the U.S. is on the outside looking in. November soybeans have formed a bear flag on the daily chart. Corn and wheat futures are also firmer this morning. Argentine farmers rushed to make sales and exporters rapidly registered all $7 billion the government allotted when it eliminated ag export taxes early this week. To benefit from the tax relief, 90% of those dollars must be sold in the FX market within 72 hours. China was a big buyer of soybeans, locking in 38 cargoes (nearly 2.5 bil. bu. or 91 million bu.) over the past three days, most of which not surprisingly will be loaded for late fall/early winter delivery, industry sources told me. That covers Chinese buyers on their needs through year-end – and into the start of Brazil’s new-crop harvest. An Argentine source told me, “A lot of the export declarations were for near-term delivery, but some were for…