Soybeans fall for third session on US export worries; wheat, corn firm

SINGAPORE: Chicago soybeans slid on Tuesday, losing more ground on uncertainty around US exports following the Supreme Court’s decision to strike down President Donald Trump’s import tariffs, which weighed on prices.

The market is waiting to see whether importers of US farm goods, including China back away from US trade deals following the Supreme Court’s ruling or retaliate after Trump on Saturday raised a temporary duty to 15% on US imports from all countries. Wheat and corn meanwhile, inched higher.

“We don’t see a big upside in soybean prices unless we see China buying US cargoes,” said one oilseed trader in Singapore.

“Buyers are preferring to take Brazilian cargoes which are much cheaper.”

The most-active soybean contract on the Chicago Board of Trade (CBOT) fell 0.2% to $11.47 a bushel, as of 0333 GMT.

Wheat added 0.5% to $5.76-3/4 a bushel and corn was up 0.1% at $4.40-1/2 a bushel.

On Friday, Trump imposed a 10% temporary tariff after the Supreme Court struck down his previous tariff program.

He also ordered the start of new investigations under other statutes that officials said could result in additional tariffs affecting many trading partners. China’s soybean futures lost 0.4%, while corn added almost 1% as the market reopened after a week-long Lunar New Year break.

Trump’s trade dispute with China last year halted US soybean sales to the world’s biggest importer.

In late October, Washington and Beijing reached a trade truce that led to a restart of China’s purchases. In other news, Brazilian farmers had harvested 30% of their 2025/26 soybean crop as of last Thursday, agribusiness consultancy AgRural said on Monday, up 9 percentage points from the previous week but below the 39% reported a year earlier.

The pace is the slowest since 2020/21, it said.