Chicago soybean prices recovered on Friday after a sharp decline the previous day, as traders evaluated the likelihood of further U.S. soybean sales to China following the recent trade truce between Washington and Beijing. The most-active January soybean contract on the Chicago Board of Trade rose 9-1/2 cents, closing at $11.17 per bushel.
Corn saw little movement, ending down 1-1/2 cents at $4.27-1/4, while wheat fell 7-3/4 cents to $5.27-3/4 amid disappointing U.S. sales to China and ongoing concerns over ample global supplies.
China has resumed modest purchases of U.S. farm products, but traders remain cautious as details from a recent soybean procurement signing ceremony were limited. The White House previously stated that China had pledged to buy 12 million tons of U.S. soybeans by the end of 2025, yet current activity has been modest. “Now it is more uncertain,” said Don Roose, president of U.S. Commodities. He noted that Brazilian soybeans, with lower January prices, continue to compete for Chinese demand.
Wheat markets were pressured by limited Chinese buying—Reuters reported just two U.S. cargoes booked—while exporters in Russia and the Southern Hemisphere, including Argentina and Australia, ramp up shipments. Corn faced headwinds as the U.S. harvest nears completion, leaving producers with surplus grain seeking buyers.
The market’s movements reflect the balancing act between cautious optimism over Chinese demand for U.S. soybeans and the persistent weight of global grain supplies that continue to cap gains in wheat and corn.
