FX.co ★ Soybeans Fall Below $11 on Uncertain Export Demand

Soybean futures have fallen below $11 per bushel, marking their lowest point since late October. This decline is attributed to uncertainties surrounding Chinese demand and favorable weather conditions in South America, which are enhancing expectations for a strong harvest. Despite the resumption of US soybean purchases by China following the US-China trade agreement in October, the purchasing pace has not met traders' expectations. Since the agreement, the United States has sold approximately 2.7 million tons of soybeans to China, significantly below the 12 million tons target set by US officials. Concurrently, Brazil is witnessing promising crop prospects, with anticipated widespread rainfall this week likely alleviating drought worries. Additionally, President Trump announced a $12 billion aid package on Monday to support American farmers affected by the tariffs and the ongoing trade conflict with China.