FX.co ★ Soybean Futures Fall to Lowest Since October 1

Soybean futures have declined to approximately $10 per bushel, marking the lowest point since early October. This drop is attributed to profit-taking by bullish investors, active technical selling, and mounting concerns over US-China trade relations. President Donald Trump has forecasted that China will resume purchasing US soybeans after his upcoming meeting with President Xi Jinping. However, China's recent expansion of export controls on rare earth metals has intensified skepticism about a potential resolution to the trade dispute. Additionally, market activity has been subdued due to the postponement of the US Department of Agriculture’s monthly supply and demand report, a consequence of the federal government shutdown. Meanwhile, details on the proposed $10–15 billion aid package for farmers, as promised by President Trump, remain undisclosed and are expected to be provided only once the government reopens. In related news, the Chinese Ministry of Agriculture has upheld its soybean import forecast for the 2025/26 period at 95.8 million tonnes, as per its October report.