Soybean Futures Climb as US-China Trade Talks Approach

Soybean futures surged on Monday, with prices rising 15 to 24 cents as traders increased risk exposure in anticipation of key US-China trade discussions scheduled for this week. The cmdtyView national average cash bean price climbed 24.5 cents to $12.69 3/4, while soymeal futures advanced $5.60 and soy oil gained between 44 and 63 points.

The USDA’s Crop Progress report indicated that 62% of the US soybean crop had dropped leaves by September 20, with harvest reaching 12% completion—ahead of the typical 8% average pace. Crop condition ratings held steady at 58% good/excellent, though the Brugler500 index dipped slightly due to a shift from fair to poor conditions.

Export inspections revealed soybean shipments of 759,193 metric tons for the week ending September 17, marking an 11.6% increase from the prior week and a 34.2% rise compared to the same period last year. China led destinations with 446,789 metric tons, followed by Mexico and the Netherlands. Total marketing year shipments now stand at 36.848 million metric tons, 1.8% ahead of the previous year.

Market momentum was bolstered by diplomatic developments, including a weekend meeting between US Treasury Secretary Bessent and Chinese officials, paving the way for higher-level talks. In Brazil, soybean planting progressed to 1.2% by Thursday, slightly exceeding last year’s pace of 0.9%.

Specific contract closures included November 2026 soybeans at $13.28 (up 24.5 cents), January 2027 at $13.44 (up 24 cents), and March 2027 at $13.51 3/4 (up 22.25 cents).

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