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USMCA Offers Stability in Key Markets

The NCC applauded President Trump’s signing on January 29 of the Congressionally-approved U.S.-Mexico-Canada Agreement (USMCA).
 
The National Cotton Council (NCC) applauded President Trump’s signing today of the Congressionally-approved U.S.-Mexico-Canada Agreement (USMCA).
 
NCC Chairman Mike Tate said this trade agreement will provide a boost in trade certainty for U.S. cotton and cotton textile products in the North American market. He noted that Mexico is the second largest export market for U.S. cotton textile/apparel products and Canada is the fourth largest for these goods. Mexico also is a top market for U.S. raw cotton.
 
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Did Bears Win Thanksgiving, Will Bulls Get Christmas?

Video: Did Bears Win Thanksgiving, Will Bulls Get Christmas?


Did the bears win Thanksgiving (although this week had green on the screen), and will the bulls get Christmas? Bears won thanksgiving thanks to a USDA Nov crop report dud that stalled the bullish grain momentum for a brief period. But a bullish lower yield surprise in the Dec crop report could reignite the rally.
2026 U.S. winter wheat planting is nearly complete at 97% while crop conditions improved by 3 points to 48% good-to-excellent. US corn & soybean harvest is complete.
High corn demand, which is off the chart, and more Chinese soybean demand could support a Christmas rally.
Nasdaq had it’s worst November since 2011.
A U.S. Fed rate cut in December will help fund flow and sentiment.
Bitcoin held a long-term support at 80,000 and that's positive for fund flow and sentiment. It should help stock prices and Ag as we go into December.
Fertilizer prices continue to climb as we look ahead to 2026. Farmers may rely more on the nutrients that they already have in their soils.
South American Weather remains critical as the soybean reproductive stage starts from late Nov to late Feb depending on planting date.
Will a Russia-Ukraine peace deal happen by year-end?
CFTC data as of showed more managed money fund sell-off as of October 14th.