Soybean futures declined to about $11.42 per bushel, extending losses for a second straight session as prices pulled back from last week’s multi‑month highs. The retreat was largely attributed to subdued demand from China, the world’s largest importer, which was absent from the market during a week-long holiday, weighing on near-term buying interest.
Futures had previously climbed to a two-month high in early February after U.S. President Trump indicated that China was considering increasing its purchases of U.S. soybeans. Adding to the optimism, a report by the South China Morning Post suggested that Trump and Chinese President Xi Jinping might extend their trade truce for up to a year, bolstering expectations for stronger agricultural trade. However, the absence of confirmed purchase agreements curbed follow-through buying.
Further downward pressure on prices came from abundant supplies in Brazil, the world’s largest producer, where ongoing harvest progress continued to improve export availability.
