SINGAPORE – Chicago soybeans fell on Tuesday, losing further ground due to uncertainty over U.S. exports following the Supreme Court’s decision to lift President Donald Trump’s import tariffs that had weighed on prices.
Markets will be watching to see whether importers of U.S. agricultural products, including China, will withdraw from U.S. trade deals following the Supreme Court ruling or retaliate after President Trump on Saturday raised temporary tariffs on U.S. imports from all countries to 15%. On the other hand, prices of wheat and corn rose slightly.
“Unless China buys US cargoes, I don’t think soybean prices will rise significantly,” said an oilseed trader in Singapore. “Buyers seem to prefer Brazilian cargo, which is much cheaper.”
The most active soybean trade on the Chicago Board of Trade (CBOT) was down 0.2% at $11.47 per bushel as of 0333 GMT. Wheat rose 0.5% to $5.76-3/4 a bushel, and corn rose 0.1% to $4.40-1/2 a bushel.
On Friday, President Trump imposed interim 10% tariffs after the Supreme Court invalidated his previous tariff program. He also ordered the opening of new investigations under other laws that officials said could result in additional tariffs that would affect many trading partners.
Chinese soybean futures fell 0.4%, but corn rose nearly 1% as markets reopened after a week-long Lunar New Year holiday.
Last year, President Trump suspended sales of U.S. soybeans to the world’s largest importer due to trade tensions with China. In late October, the U.S. government and China agreed to a trade ceasefire, which led to a resumption of Chinese purchases.
In other news, Brazilian farmers have harvested 30% of the 2025/26 soybean crop as of last Thursday, agribusiness consultancy Agraral announced on Monday. This was an increase of 9 points from the previous week, but was lower than the 39% reported the previous year. The company said the pace was the slowest since 2020/21.
