Commodity Compass – 11/01 – Uranium Receives Headline Boost while China Returns to the US Soy Bean Market

The headlines this week were dominated by politics and trade: In Argentina’s mid-term elections, Javier Milei’s party secured a decisive win, boosting market confidence in Argentina’s reform agenda, lifting the peso, and energizing investment-interest in Latin American mining and agricultural export sectors. At the same time, the United States and China announced a trade truce: China agreed to resume large-scale U.S. soybean purchases and to delay expanded rare-earth export controls, while the U.S. offered tariff reprieves in exchange. For commodity markets this cell of events meant a dual-push: agricultural commodities — especially soybeans and grains — received a bid on the promise of eased trade friction, while metals and strategic minerals felt renewed focus on supply-chain geopolitics and investment flows.