Good afternoon and welcome to Markets Desk.
Commodity markets closed the week under pressure across the board, with soybeans shedding nine to seventeen cents on the session, soymeal leading the decline, and the national cash bean price settling near twelve dollars forty-four. Wheat added to the weakness, with Chicago soft red winter futures down as much as thirteen cents, and cotton took the hardest hit, with December contracts off nearly five hundred points on the week as managed money continued to trim long positions and crude oil slipped another two dollars thirty-eight a barrel.
Shifting to geopolitics, President Trump announced Friday he has reached an agreement with Denmark over Greenland, stepping back from months of threats to seize the Arctic territory by force. Under the deal, Denmark retains sovereignty while the United States secures what Trump described as permanent control over security arrangements and an expanded military presence on the island.
And in healthcare policy, the Trump administration is set to announce that all fifty states will participate in a most favored nation drug pricing model for the Medicaid program, tying the cost of selected medications to the lower prices paid in other countries. The White House claims the plan will save Medicaid billions, though critics say the details of the underlying deals remain opaque.
That's the tape. Markets Desk, signing off the floor.
