China is the world’s largest importer of soybeans. The leading exporters, Brazil and the United States, anticipate growing demand, while Chinese imports have experienced a slowdown following stricter import control and more extensive stocks of domestically produced soybeans. This could trigger a further decline in soybean prices.

Over the past month, the Nasdaq and the Nikkei have been the leading performers among the major equity indices. The broader S&P 500 is up 3.3% thanks to the heavily weighted tech giants. The gap between tech stocks and the rest of the market should narrow.

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