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The Hightower Report said, “Following yesterday’s breakout to 2-month highs on the back of very strong bean oil prices, beans and bean oil are higher again this morning on some possible signs of de-escalation between the U.S. and China. China announced tariff exemptions on some U.S. products overnight and is asking firms to identify critical goods for levy-free consideration. Yesterday, Treasury Secretary Bessent laid out the reasons for the tariffs on China saying the Chinese economic model must change as it is unsustainable long term. He went on to say China’s economic engine should be driven more by its own domestic consumption rather than relying on exports.”