Podcast by J.P. Morgan analysts on global markets, At Any Rate

At Any Rate

Podcast by J.P. Morgan analysts on global markets

Analysts from J.P. Morgan’s Research team take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

Commodities

<ul>
<li>Chinese purchases of US agricultural products are expected to increase gradually but may take time due to seasonality and price competitiveness</li>
<li>US farmers may see more optimism in the 2026-2027 season as trade discussions with China improve and market participation increases</li>
<li>The complex nature of US-China trade relations and the continued volatility in the agricultural markets make for a clouded outlook, but there is potential for growth and market shifts in the near future.</li>
</ul>
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.


Chinese purchases of US agricultural products are expected to increase gradually but may take time due to seasonality and price competitiveness
US farmers may see more optimism in the 2026-2027 season as trade discussions with China improve and market participation increases
The complex nature of US-China trade relations and the continued volatility in the agricultural markets make for a clouded outlook, but there is potential for growth and market shifts in the near future.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Agri Outlook for 2026/27: Volatility to Return off Compressed Levels in 2026

Global Commodities, Mint Finance

Srinidhi Raghavendra

Global Commodities

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Bean prices have rallied strong in Oct pushing past the 12-month trading range. Hope or Fundamentals?</li>
<li>China has not purchased any US beans for MY 2025/26. In 2024/25, Chinese buying stalled after May.</li>
<li>Puzzle is that prices climb despite worsening fundamentals. Are traders pricing in an eventual resolution? What if their hopes are misplaced?</li>
</ul>


Bean prices have rallied strong in Oct pushing past the 12-month trading range. Hope or Fundamentals?
China has not purchased any US beans for MY 2025/26. In 2024/25, Chinese buying stalled after May.
Puzzle is that prices climb despite worsening fundamentals. Are traders pricing in an eventual resolution? What if their hopes are misplaced?


Bean Rallies on Hope Underpinned by Fragile Fundamentals

<ul><li>China holding large soybean inventories and US soybean exports to China at zero for the 2025-26 marketing year</li><li>President Trump late in addressing trade issues with China, leaving US farmers and exporters struggling to recapture market share</li><li>US seeing strong exports of corn and wheat due to competitive prices, with potential exemptions for certain agri products from tariff rates in trade deals</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

China holding large soybean inventories and US soybean exports to China at zero for the 2025-26 marketing yearPresident Trump late in addressing trade issues with China, leaving US farmers and exporters struggling to recapture market shareUS seeing strong exports of corn and wheat due to competitive prices, with potential exemptions for certain agri products from tariff rates in trade dealsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Commodities: Agri trade returns to President Trumps Agenda

Data-Driven Commodity Research, The Commodity Report

The Commodity Report

Data-Driven Commodity Research

A unique newsletter about commodities and macro analysis in a weekly format.

<ul><li>*YTD our absolute return strategy is up 12,0% Diamonds Are Cheap Diamond prices have fallen to their lowest level this century!</li><li>Diamond prices are currently low due to a combination of factors including decreased demand, increased supply of lab-grown diamonds, and fewer marriages.</li><li>Lab-grown diamonds used to take weeks to make but can now be grown in a few hours, compared with billions of years for natural stones.</li></ul>

*YTD our absolute return strategy is up 12,0% Diamonds Are Cheap Diamond prices have fallen to their lowest level this century!Diamond prices are currently low due to a combination of factors including decreased demand, increased supply of lab-grown diamonds, and fewer marriages.Lab-grown diamonds used to take weeks to make but can now be grown in a few hours, compared with billions of years for natural stones.

Diamonds Are Cheap & Seasonality Headwinds for Soybeans

<ul>
<li>Bean prices have been oscillating on shifting trade war sentiments. Easing leads to rally followed by pull back in prices when tensions seemingly peak.</li>
<li>Present sentiment remains cautious amid policy uncertainty &amp; robust planting progress, with 84% of the U.S. soybean crop planted as of 1/Jun, above the five-year average of 80%.</li>
<li>Despite the recent pullback in futures, skew (Up Var minus Down Var) has reached a YTD high, signalling market expectations of a spike in bean prices.</li>
</ul>


Bean prices have been oscillating on shifting trade war sentiments. Easing leads to rally followed by pull back in prices when tensions seemingly peak.
Present sentiment remains cautious amid policy uncertainty &amp; robust planting progress, with 84% of the U.S. soybean crop planted as of 1/Jun, above the five-year average of 80%.
Despite the recent pullback in futures, skew (Up Var minus Down Var) has reached a YTD high, signalling market expectations of a spike in bean prices.


Bearishness Persist in Soybeans Despite Rebound Hopes

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Soybean Active Contract (S A COMDTY)

Agri Outlook for 2026/27: Volatility to Return off Compressed Levels in 2026

Trade levels with China remain steady, US agricultural product sales not expected to increase significantly in the short term, South American...

At Any Rate

Bean Rallies on Hope Underpinned by Fragile Fundamentals

Bean prices have surged despite weak fundamentals, raising questions about whether traders are banking on a resolution to the China-US trade dispute.

Mint Finance

Global Commodities: Agri trade returns to President Trumps Agenda

China's record soybean inventories and limited imports from the US prompt President Trump to discuss trade with President Xi, while the US benefits...

At Any Rate

Diamonds Are Cheap & Seasonality Headwinds for Soybeans

YTD our absolute return strategy is up 12,0% Diamonds Are Cheap Diamond prices have fallen to their lowest level this century!

The Commodity Report

Bearishness Persist in Soybeans Despite Rebound Hopes

Bean prices fluctuate with trade war sentiments. Outlook remains cautious due to policy uncertainty and strong planting progress.

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Agri Outlook for 2026/27: Volatility to Return off Compressed Levels in 2026

Trade levels with China remain steady, US agricultural product sales not expected to increase significantly in the short term, South American...

At Any Rate

Bean Rallies on Hope Underpinned by Fragile Fundamentals

​Bean prices have surged despite weak fundamentals, raising questions about whether traders are banking on a resolution to the China-US trade dispute.

Mint Finance

Global Commodities: Agri trade returns to President Trumps Agenda

China's record soybean inventories and limited imports from the US prompt President Trump to discuss trade with President Xi, while the US benefits...

At Any Rate

Diamonds Are Cheap & Seasonality Headwinds for Soybeans

YTD our absolute return strategy is up 12,0% Diamonds Are Cheap Diamond prices have fallen to their lowest level this century!

The Commodity Report

Bearishness Persist in Soybeans Despite Rebound Hopes

​Bean prices fluctuate with trade war sentiments. Outlook remains cautious due to policy uncertainty and strong planting progress.

Mint Finance

Bean prices have surged despite weak fundamentals, raising questions about whether traders are banking on a resolution to the China-US trade dispute.

Bean prices fluctuate with trade war sentiments. Outlook remains cautious due to policy uncertainty and strong planting progress.