Soybeans Hits 4-week High

Soybean futures rose to around $11.8 per bushel, reaching a four-week high, supported by firm biofuel-linked demand and fresh cues from the USDA’s latest monthly report. The agency raised its soybean crush forecast by 35 million bushels to a record 2.61 billion, marking a fifth straight annual high, but this was fully offset by a similar cut in exports to 1.54 billion due to stronger South American competition. As a result, ending stocks were left unchanged at 350 million bushels, broadly in line with expectations. Globally, stocks edged lower to 124.79 million metric tons, while production estimates for Brazil and Argentina were held steady. Meanwhile, crude oil prices surged after President Trump ordered a blockade of the Strait of Hormuz, intensifying supply concerns and boosting biodiesel demand. Hopes of stronger demand from China, the world’s largest soybean importer, also supported prices, as Trump and Xi Jinping are expected to meet in just over a month to discuss trade.

Soybeans increased to 1180.00 USd/Bu, the highest since March 2026. Over the past 4 weeks, Soybeans gained 2.03%, and in the last 12 months, it increased 13.15%.

Soybean futures climbed to $11.7 per bushel, approaching their highest level since mid-March, supported by a weaker dollar and the USDA’s latest monthly report. The agency’s April outlook featured higher crush but lower exports, leaving ending stocks unchanged. Soybean crush rose by 35 million bushels to a record 2.61 billion, marking the fifth straight yearly high, but this was fully offset by a 35-million-bushel cut in exports to 1.54 billion, as USDA cited stronger South American competition. As a result, ending stocks remained steady at 350 million bushels, closely matching market expectations of 349 million. The USDA kept South American production forecasts unchanged, with Brazilian output at 6.614 billion bushels and Argentine production at 1.764 billion bushels, defying expectations of slight adjustments. Global ending stocks dipped to 124.79 million metric tons (from 125.31 MMT in March), below the trade’s average estimate of 125.51 MMT.