Soybeans Retreat as Market Eyes China Target

2025-11-24 14:00 By Dongting Liu 1 min. read

Soybean futures hovered around $11.2 per bushel, retreating from a 16-month high of $11.6 on November 18, amid doubts over China’s ability to meet its 12-million-ton target.

The US Department of Agriculture reported sales to China of 1.584 million tons last week, the largest weekly volume since November 2023, but further purchases would need to accelerate to reach the target.

Ample Chinese inventories, low crushing margins, and US soybeans being less competitive than Brazilian supplies added uncertainty to the outlook for additional purchases.

As of November 16, 95% of US soybeans had been harvested, trailing 98% last year and the five-year average of 96%.

In Brazil, drought concerns in some regions prompted Safras to lower its production estimate, although output is still expected to reach a record high, with 70% of soybean planting completed, above the historical average.



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