BEIJING – Chicago soybean futures rose on Thursday, boosted by U.S. President Donald Trump’s comments that China is buying more U.S. beans.
The most active soybean trade on the Chicago Board of Trade (CBOT) was up 0.8% at $11.01-1/2 per bushel as of 0412 GMT.
Corn and wheat fell. CBOT wheat was down 0.2% at $5.25-1/2 a bushel, and corn was down 0.2% at $4.28-1/2 a bushel.
Soybeans hit a two-month high on Wednesday after President Trump said in a post on the Truth Social platform that China would “increase soybean production to 20 million tons this season” (and promised 25 million tons next season!).
As the trade war continued between the two countries, China was withdrawing from the US market. Traders are watching closely for signs of renewed buying interest returning to China.
Bendigo Bank Agribusiness analyst Sean Hickey said: “Typically, China’s purchases of US soybeans taper off from January. Either way, an increase in US soybean purchases to 20 million tonnes would provide a much-needed boost to the soybean complex.”
After a trade ceasefire in late October reignited purchases, China bought about 12 million tons of U.S. soybeans by late January, fulfilling a promise announced by the U.S. to reach that total by the end of February.
However, ample global supplies limited soybean gains on Thursday.
“The record Brazilian crop is being harvested rapidly and will soon begin to capture demand from China,” Hickey said.
Brazil, the world’s biggest soybean producer and exporter, is expected to produce 181.6 million tonnes of soybeans in 2025/26, consulting firm Stone
China, the largest buyer of U.S. soybeans, is expected to rely heavily on Brazilian soybeans in the first half of 2026, as record production volumes and competitive prices will spur shipments even as supplies return from the United States.
China’s soybean imports reached a record high from May to October last year. This is because buyers have largely avoided U.S. soybeans due to increased tariffs, while buying up cargo from South America.
