FX.co ★ Soybean Futures Dip on Brazil Crop and US-China Trade Outlook

Soybean futures experienced a slight decline, trading at approximately $11.2 per bushel, down from $11.4 earlier in the month. This decrease can be attributed to the absence of new demand drivers and predictions of a robust soybean harvest in South America. Specifically, Brazil’s 2025/26 soybean harvest is anticipated to reach unprecedented levels, although concerns about drought in the southern regions persist. As of November 29, 2025, Brazil’s planting progress reached 86%, improving from 78% the previous week. Market watchers are also focusing on China’s demand for U.S. soybeans; notably, the USDA reported no new sales to China on Tuesday. Despite months of stalled trade, U.S. soybean exports to China are gaining momentum, with at least six shipments from the Gulf Coast planned by mid-December. The White House has indicated that China intends to purchase 12 million tons of U.S. soybeans by the end of the year, although official confirmation from Beijing is pending. Simultaneously, the Trump administration is anticipated to announce a support package for farmers impacted by low crop prices and trade disruptions, as attention turns to the forthcoming USDA WASDE report.