To start the week soybeans were mostly lower overnight then briefly turned higher in the day session before fading and closing with small losses. USDA reported a sale of 123,000 MT of soybeans to China. But a sale that small didn’t push the market higher as traders want to see large purchases to close the gap on the 12 MMT China is supposed to buy by year end. Marketing year to date sales to China currently sit at 1.94 MMT. Last week’s export shipments were at a disappointing 7-week low. There were no shipments to China in the report. Losses were trimmed by comments from Ag Sect. Rollins that the deal with China would be signed in a week or two and that she was confident China would honor its purchase commitments. In addition, President Trump posted on social media that he discussed soybeans on a phone call with Chinese President Xi and that they had “done a good, and very important, deal for our Great Farmers.” In South American news, soybean planting in Brazil is now 80% complete vs. 79% average.
Soybeans traded back and forth in Tuesday’s choppy session and closed a couple of cents higher. Technical buying and positioning ahead of Thanksgiving supported the market. Light support came from news that 2 cargoes are heading to New Orleans to be loaded with soybeans that will be shipped to China. That will be the first soybeans shipments to China since May. There were no USDA sales announcements today. China’s total marketing year to date soybean purchases are at 1.94 MMT. Catching up from the shutdown, USDA released the weekly export sales report as of 10/9/25. Marketing year to date soybean sales at 499 MB vs. 798 MB last year are the lowest in 17 years.
Soybeans opened Wednesday’s session higher but turned to trade with losses for most of the overnight session. Early selling was tied to disappointment on the China trade deal and lack of progress on selling them product. Reuters reported that China bought 10 to 15 cargos of US soybeans after Trump and Xi phone call on Tuesday but there has been no confirmation. Trump said the phone call focused on him requesting China to speed up their purchases and to increase the size of the purchases of US ag products. Which China more or less agreed to. Rumor has China buying US soybeans and cancelling purchases of cheaper Brazilian soybeans, which if that is the case, which is bullish that China would rather pay more for their soybeans to be in the good graces of the US. The next 60 days are going to be very important to the market. All eyes will be on China and soybean demand.
Soybeans Nov soybean support is $10.35.
For the week, January soybeans were at $11.3725 up 12.25 cents while March soybeans were at $11.4525 up 11.0 cents. December soybean meal was at $314.90 down 20 cents and December soybean oil was at $51.76 up $1.50.
Soybean Weekly Comments November 28
Soybean Weekly Comments November 28
To start the week soybeans were mostly lower overnight then briefly turned higher in the day session before fading and closing with small losses. USDA reported a sale of 123,000 MT of soybeans to China. But a sale that small didn’t push the market higher as traders want to see large purchases to close the gap on the 12 MMT China is supposed to buy by year end. Marketing year to date sales to China currently sit at 1.94 MMT. Last week’s export shipments were at a disappointing 7-week low. There were no shipments to China in the report. Losses were trimmed by comments from Ag Sect. Rollins that the deal with China would be signed in a week or two and that she was confident China would honor its purchase commitments. In addition, President Trump posted on social media that he discussed soybeans on a phone call with Chinese President Xi and that they had “done a good, and very important, deal for our Great Farmers.” In South American news, soybean planting in Brazil is now 80% complete vs. 79% average.
Soybeans traded back and forth in Tuesday’s choppy session and closed a couple of cents higher. Technical buying and positioning ahead of Thanksgiving supported the market. Light support came from news that 2 cargoes are heading to New Orleans to be loaded with soybeans that will be shipped to China. That will be the first soybeans shipments to China since May. There were no USDA sales announcements today. China’s total marketing year to date soybean purchases are at 1.94 MMT. Catching up from the shutdown, USDA released the weekly export sales report as of 10/9/25. Marketing year to date soybean sales at 499 MB vs. 798 MB last year are the lowest in 17 years.
Soybeans opened Wednesday’s session higher but turned to trade with losses for most of the overnight session. Early selling was tied to disappointment on the China trade deal and lack of progress on selling them product. Reuters reported that China bought 10 to 15 cargos of US soybeans after Trump and Xi phone call on Tuesday but there has been no confirmation. Trump said the phone call focused on him requesting China to speed up their purchases and to increase the size of the purchases of US ag products. Which China more or less agreed to. Rumor has China buying US soybeans and cancelling purchases of cheaper Brazilian soybeans, which if that is the case, which is bullish that China would rather pay more for their soybeans to be in the good graces of the US. The next 60 days are going to be very important to the market. All eyes will be on China and soybean demand.
Soybeans Nov soybean support is $10.35.
For the week, January soybeans were at $11.3725 up 12.25 cents while March soybeans were at $11.4525 up 11.0 cents. December soybean meal was at $314.90 down 20 cents and December soybean oil was at $51.76 up $1.50.