Soybeans Hit Two-Week High

2026-06-17 03:57 By Joshua Ferrer 1 min. read

Soybean futures climbed above $11.3 per bushel, hitting a two-week high on signs of renewed Chinese import demand, although favorable US crop weather limited further upside.

Reports indicate Chinese buyers are looking to secure US cargoes for fourth-quarter shipment, though traders say no firm deals have been confirmed yet.

Markets have been closely monitoring Chinese purchasing activity following the May announcement that China would buy $17 billion of US agricultural products annually, alongside an existing commitment of 25 million metric tons of soybeans.

Meanwhile, widespread rain and warm temperatures across the US Midwest have generally benefited crop development over the past week, reinforcing expectations of adequate global supply.

The USDA also rated 66% of US soybeans in good-to-excellent condition, up one percentage point from a week earlier.

A sharp decline in crude oil prices after an outline US-Iran peace deal added further pressure on grain and oilseed markets.



News Stream
Soybeans Hit Two-Week High
Soybean futures climbed above $11.3 per bushel, hitting a two-week high on signs of renewed Chinese import demand, although favorable US crop weather limited further upside. Reports indicate Chinese buyers are looking to secure US cargoes for fourth-quarter shipment, though traders say no firm deals have been confirmed yet. Markets have been closely monitoring Chinese purchasing activity following the May announcement that China would buy $17 billion of US agricultural products annually, alongside an existing commitment of 25 million metric tons of soybeans. Meanwhile, widespread rain and warm temperatures across the US Midwest have generally benefited crop development over the past week, reinforcing expectations of adequate global supply. The USDA also rated 66% of US soybeans in good-to-excellent condition, up one percentage point from a week earlier. A sharp decline in crude oil prices after an outline US-Iran peace deal added further pressure on grain and oilseed markets.
2026-06-17
Soybeans Pressured at 4-Month Lows
Soybean futures traded below $11.2 per bushel, hovering near four-month lows as a tentative US-Iran peace agreement sent oil prices sharply lower. Oil prices dropped after US President Donald Trump and Iran’s deputy foreign minister said they had reached a tentative deal to halt hostilities and resume traffic through the Strait of Hormuz. Agricultural goods often track crude oil prices due to their link to biofuel demand from grains and oilseeds. Favourable US crop weather and higher South American production forecasts added pressure on prices, with the USDA last week raising its soybean production forecasts for Argentina to 50 million metric tons. Weak Chinese demand for US agricultural exports has further weighed on sentiment despite earlier expectations of large-scale purchases. Meanwhile, US soybean crush pace likely slowed for a third straight month in May as some processing plants were idled for seasonal maintenance and repairs despite historically large crush margins.
2026-06-15
Soybeans Hover Near 4-Month Lows
Soybean futures traded around $11.1 per bushel, hovering near four-month lows, pressured by favorable US crop weather and a lack of renewed Chinese demand for US supplies. The absence of visible Chinese buying activity has disappointed traders who had anticipated stronger export demand following the announcement in May that China would buy $17 billion worth of US agricultural products annually in addition to the 25 million metric tons of soybeans already committed. Meanwhile, favorable weather across the US Midwest continued to reinforce expectations for strong crop development, while the likelihood of a sharp increase in planted acreage raised prospects for a record harvest. USDA's weekly crop ratings are expected to show improvement from the prior week's 66% good-to-excellent rating, while planting progress reached 87% complete as of May 31. Elsewhere, Argentina's soybean harvest was 91.7% complete, while soaring fertilizer costs are pressuring Brazilian farmers.
2026-06-09