FX.co ★ Soybeans Tick Up Amid China’s Record Imports, Gains Capped

Soybean futures stabilized around $10.40 per bushel, rebounding from recent lows due to strong demand expectations. China, the largest global importer of soybeans, announced a record import figure of 111.83 million metric tons for 2025, marking a 6.5% increase from the previous year. Despite this recovery, the overall price rise has been limited. This constraint partly stems from the US Department of Agriculture reducing its forecast for US soybean exports by 60 million bushels while simultaneously raising Brazil's production estimate, subsequently driving prices to a two-and-a-half-month low. Brazil's record-breaking harvest is likely to exert pressure on US export demand in the months ahead, with China's future purchasing plans remaining uncertain after reaching its target of 12 million tons of US soybeans. Additional uncertainty in the market arises from US President Donald Trump's threat to impose a 25% tariff on any nation trading with Iran, which could potentially complicate the trade dynamics between China and the US.