Soybean futures traded around $11.6 per bushel, well below a near two-year high of $12.27 reached on March 12, as ongoing uncertainty in global trade continues to weigh on prices.

Buying momentum from China slowed after an initial surge, and the postponement of a planned Trump–Xi meeting has added further doubts about future demand.

In addition, Brazil has strengthened its dominance in China’s imports, with shipments in early 2026 surging more than 80% year on year, limiting upside potential for US soybeans.

Still, the USDA expects China to purchase about 108 million metric tons in 2026, slightly higher than last year, underpinned by steady demand from its feed industry.

Recent shipments of US soybeans to China also increased following a trade truce, with February imports reaching 1.45 million tons, the highest level since June.
Source: Trading Economics