Global grain and oilseed markets

On Friday, Chicago Mercantile Exchange soybean prices continued a three-day rise, driven by President Donald Trump's Wednesday statement that China would increase purchases of U.S. soybeans. On Wednesday, soybean prices reached a two-month high after Trump reported that China was increasing purchases and "bringing soybean production volume to 20 million tons" in the current season. This meant that China could purchase an additional 8 million metric tons of U.S. soybeans in the 2025/26 year in addition to the approximately 12 million tons already booked since the trade truce was reached in late October. "The market is assuming China will buy something," said Dan Basse, president of AgResource, though he noted that many in the industry were skeptical that Trump's comments would prove true. These statements surprised traders, who expected China to rely heavily on Brazilian soybeans in the first half of 2026. Brazil, the world's largest producer and exporter of soybeans, is forecast ...