Soybeans are one of the most important agricultural commodities globally, widely used for food products, animal feed, and biofuels. As a result, soybean prices are closely followed due to their impact on food supply chains, livestock production, and global trade flows. Soybean futures are traded on the Chicago Board of Trade (CBOT) and serve as a global benchmark for pricing. The market is dominated by major producers and exporters, including the United States, Brazil, Argentina, and Paraguay, which together account for the majority of global production and exports. On the demand side, China is by far the largest importer, followed by the European Union, Mexico, Japan, and Taiwan. Soybean prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
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.
Soybean Futures Hit 4-Month Low
Soybean futures slid around $11.2 per bushel, hitting a four-month low as favorable US growing conditions and strong planting progress reinforced expectations of ample supply. Improving weather across key US regions supported crop development, while recent rainfall eased drought concerns in parts of the Plains and reduced earlier planting-delay worries in the Midwest. USDA also reported planting at 87% complete as of late May, ahead of the five-year average, with emergence above normal at 65%. Meanwhile, crop condition ratings came in slightly below expectations at 66% good-to-excellent, reflecting mixed regional performance. Export outlook remains weak, with US soybean shipments expected to decline about 344 million from fiscal 2025 as China continues to be a key but inconsistent buyer. US exporters have been disappointed that no sizeable new corn purchases from China have been reported so far, despite political signals in mid-May that suggested larger Chinese agricultural imports. 2026-06-04
Ref: