Soybeans climb on soyoil rally, China buying

BEIJING: Chicago soybean futures rose on Monday, supported by higher soyoil prices and renewed buying interest from China last week.

The most active soybean contract on the Chicago Board of Trade (CBOT) was up 0.24% at $11.45-1/2 a bushel as of 0313 GMT.

Traders are closely monitoring signs of renewed Chinese buying after a May 14–15 summit between Presidents Donald Trump and Xi Jinping left a soybean purchase commitment of 25 million metric tons annually through 2028 unchanged.

The US Department of Agriculture last week confirmed the sale of 132,000 tons of US soybeans to China for delivery in the 2026/27 marketing year, marking the first publicly reported Chinese purchase since the May summit.

Soybeans drew additional support from stronger soyoil prices, given their role in biofuel production.

Soyoil gained 1.16% to 66.56 cents per pound.

On the global front, excess soil moisture in Argentina’s southern region has slowed the 2025/26 soybean harvest and

 delayed planting of the 2026/27 wheat crop, the Buenos Aires Grains Exchange said on Thursday. Corn lost 0.48% to $4.15-1/2 a bushel. Wheat fell 0.37% to $6.11-3/4 a bushel.

“A solid US export pace and concerns over HRW (hard red winter wheat) crop conditions were offering some support for wheat markets by mid-last week, before the broader easing in agricultural markets fed through into wheat,” said Sean Hickey, an analyst at Bendigo Bank Agribusiness.

Heavy rain in eastern Iowa, central Illinois, Indiana, and parts of Ohio has hindered fertilizer application and spraying, with excess moisture threatening crop health, analysts said.

CBOT markets were closed on Friday due to the Juneteenth holiday in the US.