Prices for soybeans in Chicago continue to fall, but in Ukraine they are rising due to high domestic demand.

Low sales of American soybeans to China, along with improved conditions for soybean crop development in South America, are increasing pressure on prices. January soybean futures in Chicago fell by another 2% to $393.8/t over the past week, losing 8% over the month (recall that speculative growth in October-November was 13%) and without waiting for active exports to China. Currently, according to the USDA, confirmed sales of American soybeans to China amount to about 4.2 million tons, far from the promised 12 million tons by the end of 2025, and the overall export rate is also falling, with only active domestic processing supporting prices. In the 2025/26 MY (September 1 – December 11), the U.S. exported only 13.7 million tons of soybeans, which is 46.3% less than the corresponding figure last year and constitutes 30% of the forecasted export for the season. According to the U.S. Processors Association NOPA, during November, soybean processing in the U.S. decreased by 5% compared ...