BEIJING: Chicago soybean futures fell on Wednesday, weighed down by favourable weather conditions across the US Midwest and sluggish demand.
The most-active soybean contract on the Chicago Board of Trade (CBOT) dipped 0.05% to $10.09 per bushel by 0338 GMT, on track for a fourth consecutive session of fall.
Corn slipped 0.18% to $4.10 a bushel. Wheat dropped 0.42% to $5.28 a bushel, hovering near a seven-week low. Forecasts for cooler Midwest temperatures and periodic rainfall in the US Midwest bolstered expectations for a big US harvest, pressuring corn and soybean futures. Northern Hemisphere harvests and weak global demand kept wheat prices under pressure. In top soy buyer China, demand for soybeans is expected to remain subdued during the peak US marketing season later this year. Record imports earlier in 2025 and soft demand from animal feed producers have led to a buildup in domestic soymeal inventories.
On the trade front, US and Chinese officials agreed to seek an extension of their 90-day tariff truce following two days of talks in Stockholm aimed at defusing an escalating trade war between the world’s two biggest economies.
No major breakthroughs were announced, and US officials said it was up to President Donald Trump to decide whether to extend the trade truce that expires on August 12.
“The uncertainties over US-China trade deal, with the market not expecting a resolution any time soon for Chinese crushers to resume buying farm products, suggest that soybean arrivals to China will likely fall steeply in Q4 2025 and Q1 2026,” said Cheang Kang Wei, vice president at StoneX in Singapore.
Commodity funds were net sellers of CBOT corn, wheat, soymeal and soybean futures contracts on Tuesday and net buyers of soyoil futures, traders said.
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