Soybean futures hovered around $10.70 per bushel, near their highest level since mid-December, supported by a weaker US dollar even as expectations of a bumper Brazilian harvest limited further gains.

The greenback slid to its lowest level in nearly four years amid renewed concerns over a potential US government shutdown, uncertainty around President Trump’s trade policy, and speculation over possible coordinated US-Japan currency intervention.

On the demand side, China is expected to increase imports of Brazilian soybeans in the first half of 2026, as record output and competitive prices drive shipments and reinforce South America’s dominance in the world’s largest oilseed market.

This comes after a recent wave of US soybean purchases, with reports indicating China met its target of buying 12 million tonnes of US soybeans following a late-October trade truce.

Meanwhile, investors continue to monitor potentially stressful hot and dry weather conditions in key crop areas of Argentina.
Source: Trading Economics