FX.co ★ Soybean Futures Slide Amid Trade Tensions

Soybean futures declined to $10.60 per bushel due to renewed trade tensions sparked by President Trump's threat to impose a 50% tariff on goods from the European Union. The market faced additional pressure from reduced new-crop export bookings, increased competition from leading producers Brazil and Argentina, and speculation that the House's recently passed budget bill might contain biofuel mandates detrimental to the sector. According to the USDA, net weekly U.S. soybean sales for the 2024-25 marketing year reached 307,900 metric tons (equivalent to 11.3 million bushels), marking a 9% increase from the previous week but a 10% decrease compared to the four-week average. Meanwhile, sales for the 2025-26 season were significantly below expectations at just 15,000 metric tons, a steep drop from the 490,300 metric tons recorded the prior week. Thus far in the 2024-25 year, export sales amount to 1.775 billion bushels, which is 13% higher than the corresponding period last year, yet only exceeds the pace required to meet the USDA's annual export forecast by a mere 8 million bushels.