Soybean futures fell more than 2% to around $12 per bushel, pulling back from their highest level in nearly two years, as investors grew increasingly concerned about potential delays in US trade talks with China, the world’s largest soybean importer. The decline followed remarks from US President Donald Trump, who stated he could postpone a planned summit with China’s President Xi Jinping if Beijing fails to help resolve the blockade of the Strait of Hormuz.
The prospect of delayed negotiations has raised fears that the recent recovery in US soybean sales to China could lose momentum. A summit between the two leaders late last year had previously sparked a sharp rebound in Chinese purchases of US soybeans after months of subdued demand, but buying weakened again once an initial 12-million-ton target was met.
At the same time, ongoing uncertainty around the Strait of Hormuz—a critical global shipping corridor that has faced disruptions since the onset of the Iran conflict—has continued to lend support to oilseed markets, underpinned by higher energy prices and persistent geopolitical risks.
