The overnight market did not seem to know how to take the results of the Trump/Kim Jong Un meeting in Singapore. It ended with an announced agreement to denuclearize North Korea and for the U.S. to cease joint military exercises with South Korea. As always, the “devil is in the details,” and much remains to be worked out. Although Chinese officials applauded the results, it is not apparent what (if any) role they played in the background. It is also not at all clear if the North Korean deal, whatever it is, will soften the trade disputes with China and reopen that market to U.S. soybeans. However, the U.S. will need China’s influence if the negotiations to flesh out a formal agreement are to succeed, so an escalation of th...