Soybean Futures Hold Near 3-Month High

2026-02-17 17:44 By Agna Gabriel 1 min. read

Soybean futures hovered near $11.4 per bushel, close to their highest level in three months, supported by the one-year extension of the "Busan Truce".

Under this renewed agreement between President Trump and President Xi Jinping, China has reportedly committed to purchasing 20 million metric tons of US soybeans for the current marketing year, providing a critical support floor for American producers.

However, this bullish news is being tempered by the ongoing harvest in Brazil, where the National Supply Company raised its production forecast to 180 million metric tons.

While recent heavy rains in South America have slowed harvest progress to roughly 21% completion and raised some quality concerns, the sheer volume of the Brazilian crop remains a primary headwind for further price appreciation.

Additionally, traders are closely monitoring the latest NOPA crush report and weekly USDA export inspections, which showed China remains the primary destination for US beans.



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Soybean futures hovered near $11.4 per bushel, close to their highest level in three months, supported by the one-year extension of the "Busan Truce". Under this renewed agreement between President Trump and President Xi Jinping, China has reportedly committed to purchasing 20 million metric tons of US soybeans for the current marketing year, providing a critical support floor for American producers. However, this bullish news is being tempered by the ongoing harvest in Brazil, where the National Supply Company raised its production forecast to 180 million metric tons. While recent heavy rains in South America have slowed harvest progress to roughly 21% completion and raised some quality concerns, the sheer volume of the Brazilian crop remains a primary headwind for further price appreciation. Additionally, traders are closely monitoring the latest NOPA crush report and weekly USDA export inspections, which showed China remains the primary destination for US beans.
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