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16h ago

Soybean Futures Hit One-Month High on Hopes for U.S.–China Buying Return

Traders see a narrow window for U.S. sales ahead of Brazil’s new-crop shipments.

Soybean fields during a harvest at a farm outside St. Peter, Minnesota, US, on Tuesday, Sept. 30, 2025. US President Donald Trump said he would confront Chinese President Xi Jinping over Beijing's refusal to purchase American soybeans, a growing area of tension between the world's two largest economies. Photographer:
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Overview

  • CBOT November soybeans rose 1.2% to $379.10 per tonne, the highest since September 19, after President Trump said he expects Beijing to agree to a deal and resume purchases.
  • China imported no U.S. soy in September, yet market reports suggest roughly 9 million tonnes still need to be covered for December–January if talks progress.
  • A planned Trump–Xi meeting in South Korea later this month has heightened price sensitivity to any sign of Chinese buying.
  • Brazil’s 2025/26 soybean planting reached 24% by Thursday and export commitments already top 103 million tonnes, pointing to new-crop availability by late January.
  • Strong U.S. processing continues to underpin prices, with a record September crush near 5.7 million tonnes and robust domestic demand for meal and oil.