Soybean futures in CBOT rose after Argentina reinstated export duties

Soybean benchmark prices at US Midwestern crushers declined steadily, while corn and soybean prices at river terminals rose steadily.

Soybean futures on the Chicago Mercantile Exchange rose slightly on Thursday as Argentina reintroduced export duties after a temporary suspension intensified competition for global export sales.

Argentina has reintroduced export duties on grain and grain products after a two-day suspension.

After Buenos Aires suspended the taxes on Monday, Chinese buyers ordered about 20 cargoes of Argentine soybeans, or approximately 1.3 million tons, traders reported on Wednesday. These deals were a blow to US farmers, already deprived of their largest market and suffering from low prices.

Argentina’s reported soybean exports for the 2024/25 season reached a seven-year high after a brief suspension of export duties.

China, the largest importer, has not yet purchased a single soybean from the current US crop during the trade war with Washington.

The US Department of Agriculture reported net export sales of US soybeans for the 2025/26 fiscal year at 724,500 tonnes for the week ending September 18. Analysts had expected between 600,000 and 1.6 million tonnes.

November soybean futures on the Central Bank of England and Wales rose 3.5 cents to $10.12.5 per bushel.

The most active contract hit a six-week low of $10.05 on Tuesday.

December soybean meal futures on the CBOT closed down $2.90 at $273.20 per short ton. December soybean oil futures on the CBOT rose 0.43 cents to 50.27 cents per pound.

Nov 25 Soybeans closed at $10.12 1/4, up 3.5 cents,

Nearby Cash was $9.36 1/4, up 3.5 cents,

Jan 26 Soybeans closed at $10.31 1/4, up 2.5 cents,

Mar 26 Soybeans closed at $10.47 1/2, up 2.5 cents

Tags: prices, soybean, Argentina, duties