12/04/25 Traders Waiting on China, Who May Be Waiting On Price Break

12/04/2025 Click Above to Watch the Morning Market Talk Video Traders Waiting on China, Who May Be Waiting On Price Break On the Grains Soybeans recouped some of the sharp losses from the first three days this week during overnight trade. Corn and wheat paused after poor closes on Wednesday, as traders watch the escalating attacks by Russia and Ukraine, waiting to see if President Trump is successful in securing a peace deal. Treasury Secretary Scott Bessent said China is on a “perfect cadence” to complete the target of buying 12 MMT of U.S. soybeans. However, he moved the target date from the end of this year to “the end of season, so I think that will be Feb. 28.” Market talk had China buying several cargoes of U.S. soybeans Tuesday/Wednesday. If that’s the case, USDA should confirm them via daily sales today – something that has been missing the past three days. The market still awaits a big rush of Chinese buying. Anticipation of that is keeping soybean futures afloat. But January soybeans have formed a head-and-shoulders formation on the daily chart that bears watching. Violation of the neckline just under the $11.10 area would be technically bearish and…