FX.co ★ Soybean Prices Stabilize as Investors Await Progress on US-China Tariff Talks

Soybean futures remained steady at approximately $10.40 per bushel on Monday, taking a pause following last week's brief surge spurred by renewed optimism surrounding U.S.-China trade negotiations. Market participants are now closely monitoring further developments in these talks, especially after U.S. President Donald Trump reiterated on Sunday that China is open to reaching an agreement, although he mentioned there are no immediate plans for discussions with President Xi Jinping this week. Recently, Beijing confirmed it is evaluating a U.S. proposal to resume discussions concerning Washington's punitive tariffs. U.S. soybeans continue to encounter challenges due to weak demand from China, the leading importer, alongside formidable competition from Brazil, the world's top supplier. According to consultancy firm StoneX, Brazil's soybean crop for the 2024/25 season is projected to reach 168.4 million metric tons, a slight increase from the previous estimate of 167.5 million, thanks to robust production in the key state of Mato Grosso.