02/03/26

02/03/2026 Soyoil Boosted By U.S./India Trade Deal, Despite Lacking Details Morning Market Talk There will not be a Morning Market Talk video today. On the Grains Soybeans firmed overnight amid a sharp rise in soy oil futures. Corn and SRW wheat modestly followed to the upside, while the two other wheat markets mildly favored the downside. Gold and silver posted strong gains, while energy markets and the U.S. dollar stabilized after Monday’s strong moves. The U.S. and India reached a trade agreement on Monday, lowering tariffs on Indian goods. President Trump is also removing the extra 25% duty on Indian goods he applied in response to India’s purchases of crude from Russia. In total, the moves will reduce the overall duties on many Indian goods from 50% to 18%. India will reduce tariffs and non-tariff barriers against the U.S. to zero, while agreeing to purchase $500 billion of American goods, including agricultural products. While specific details of the ag purchases were lacking, soyoil is expected to be a potential big winner. India is the world’s largest importer of edible oils and soyoil could account for a larger share under the new trade deal. However, details of the deal will be…