SINGAPORE: Chicago soybean futures were flat on Thursday, caught between support from Chinese demand and pressure from ample global supplies that pushed prices to a near three-month low earlier in the week.
Wheat and corn gained ground after losses in recent sessions. “There is some buying interest in soybeans as the market is oversold,” said one oilseed trader in Singapore. “Overall, the market is looking to Chinese demand for US cargoes for a price direction.” The most-active soybean contract on the Chicago Board of Trade (CBOT) was unchanged at USD10.42-1/2 per bushel, as of 0333 GMT. The market dropped to its lowest since October 23 earlier this week.
Corn gained 0.4percent at USD4.23-3/4 per bushel, having dropped to its weakest since October 16 on Tuesday, and wheat rose 0.2percent to USD5.13-1/2 a bushel. China, which has stepped up its buying of US soybeans, imported a record volume of soybeans in 2025. The world’s biggest buyer of the oilseed imported 111.83 million metric tons in 2025, an increase of 6.5percent from a year earlier, according to customs data released on Wednesday.
Bulging grain and oilseed supplies limited gains in prices. The US Department of Agriculture surprised grain markets on Monday by increasing its estimate to a record 2025 US corn harvest, while also pegging US quarterly stocks of the cereal at their largest ever.
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