Soybeans rose on the Chicago amid expectations of US-China talks

Spot corn and soybean benchmark rates in the US Midwest remained stable or mixed on Tuesday after farmers took advantage of recent gains in corn and soybean futures to sell.

Spot prices for soybeans shipped by barge to terminals in the US Gulf of Mexico rose slightly on Tuesday after falling the previous day, as traders watched to see whether China, the largest importer, would purchase.

Demand for US soybean exports has weakened recently as global buyers turned to Brazil for fresh crops and cheaper supplies.

Traders were waiting to see whether Chinese demand for US goods would rebound in the wake of the planned summit between the two leaders.

Analysts and traders had doubted that China would purchase an additional 8 million metric tons of US cargoes after US President Donald Trump said last month that such deals were being considered.

In its monthly report, the U.S. Department of Agriculture revised its forecast for global soybean inventories through the end of 2025/26, but left its forecast for U.S. stocks unchanged. The agency also left its February forecast for Chinese imports unchanged.

CIF Gulf barge prices for March soybeans rose 1 cent to 69 cents versus May soybean futures on the Chicago Mercantile Exchange. April barge prices rose 77 cents versus futures, after trading at 79 cents versus futures on Monday.

Soybean prices closed up 5-7 cents on Tuesday in most contracts. The national average soybean price rose 5 3/4 cents to $11.27 1/4. Soybean meal futures rose 80 cents to $1.10, while soybean oil futures remained 51 points lower. Oil prices fell $8.38 on the day as the US began escorting ships through the Strait of Hormuz, though they rebounded $8 from their lows amid reports of Iran laying mines in the strait.

Optimism supported the market ahead of Secretary of State Bessent’s meeting with Chinese counterparts in Paris this weekend. This will be followed by a meeting between Trump and Xi Jinping later this month.

The USDA WASDE update released on Tuesday showed a 5 million bushel increase in US imports, offset by a 5 million bushel increase in crushed grains, bringing net ending stocks to 2.575 billion bushels. Therefore, net ending stocks remained unchanged at 350 million bushels. Soybean production in Brazil remained unchanged this month at 180 million tonnes, although Argentina’s figure fell by 0.5 million tonnes to 48 million tonnes. The only other significant change in global production was an increase in carry-over stocks from previous years by 0.18 million tonnes, as 2025/26 stocks fell by 0.2 million tonnes to 125.31 million tonnes.

According to the country’s customs data, China’s soybean imports for January and February totaled 12.55 million tonnes, down 7.8% year-on-year.

Mar 26 Soybeans  closed at $11.87 1/4, up 6 3/4 cents,

Nearby Cash  was $11.27 1/4, up 5 3/4 cents,

May 26 Soybeans  closed at $12.01 3/4, up 5 1/2 cents,

Jul 26 Soybeans  closed at $12.15, up 6 cents

Tags: prices, soybean