Soybean Prices Struggle at 4-Month Lows

2026-06-23 02:27 By Joshua Ferrer 1 min. read

Soybean futures hovered around $11.2 per bushel, pressured near four-month lows, as favourable US crop weather conditions and falling crude oil prices weighed.

Progress in ongoing US-Iran peace talks improved shipping activity through the Strait of Hormuz, fueling expectations of a faster recovery in global supply and pushing crude oil prices lower.

Soybeans often track crude oil due to its use as feedstock for biofuel.

Abundant rainfall and moderate temperatures in the US Midwest have also curbed prices this month, though excess wet conditions are beginning to disrupt fieldwork.

Additional pressure came from ample global supplies, with Brazil's planting area expected to reach a record 49.006 million hectares, a 0.9% rise from the previous cycle.

Meanwhile, the USDA's weekly crop progress report showed ratings for US soybeans unchanged from last week at 66% good-to-excellent.

Traders now look for signs of bulk Chinese purchases, following 132,000 tons of US soybeans sold last week.



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Soybean Prices Struggle at 4-Month Lows
Soybean futures hovered around $11.2 per bushel, pressured near four-month lows, as favourable US crop weather conditions and falling crude oil prices weighed. Progress in ongoing US-Iran peace talks improved shipping activity through the Strait of Hormuz, fueling expectations of a faster recovery in global supply and pushing crude oil prices lower. Soybeans often track crude oil due to its use as feedstock for biofuel. Abundant rainfall and moderate temperatures in the US Midwest have also curbed prices this month, though excess wet conditions are beginning to disrupt fieldwork. Additional pressure came from ample global supplies, with Brazil's planting area expected to reach a record 49.006 million hectares, a 0.9% rise from the previous cycle. Meanwhile, the USDA's weekly crop progress report showed ratings for US soybeans unchanged from last week at 66% good-to-excellent. Traders now look for signs of bulk Chinese purchases, following 132,000 tons of US soybeans sold last week.
2026-06-23
Soybeans Attempt Rebound
Soybean futures rose above $11.2 per bushel, attempting to rebound from four-month lows as a stronger US dollar was offset by firmer crude oil prices and renewed Chinese demand. The USDA confirmed last week the sale of 132,000 tons of US soybeans to China for delivery in the 2026/27 marketing year, marking the first publicly reported Chinese purchase since the May summit. Additional support came from higher crude oil prices after shipping activity through the Strait of Hormuz slowed, while early talks between US and Iran, held under a new interim agreement, got off to a shaky start. Agricultural goods tend to track crude oil movements given their linkage to biofuel demand in grains and oilseeds. Meanwhile, the US dollar remained firm after the Federal Reserve policy meeting last week reinforced expectations of rate hikes this year, making US commodities more expensive for foreign buyers. Elsewhere, excess soil moisture in southern Argentina has slowed the 2025/26 soybean harvest.
2026-06-22
Soybeans Fall from 2-Week High
Soybean futures fell to around $11.2 per bushel, easing from a two-week high as a stronger US dollar and weaker oil prices outweighed expectations of Chinese demand. While the USDA reported 132,000 metric tonnes of US soybeans sold to China, overall buying pace remains slow and concerns remain that China may fall short of projected import volumes. Focus now turns on upcoming USDA crop condition reports next week for signs of stress in the US Midwest soybean belt. Recent heavy rainfalls have disrupted fieldwork, preventing timely fertilizer and crop treatments, raising concerns over potential yield impacts if wet conditions persist. Meanwhile, the US dollar strengthened after the latest Fed policy meeting reinforced bets of rate hikes this year, making US commodities more expensive for foreign buyers. Crude oil also dropped to its lowest level since the start of the Iran war after an interim deal raised expectations of improved supply flows and the reopening of the Strait of Hormuz.
2026-06-19