Global grain and oilseed markets

According to market sources, basis levels for soybeans delivered by barge to terminals on the U.S. Gulf Coast declined on Monday amid ongoing uncertainty regarding demand for Chinese exports, while basis levels for corn strengthened. Soybean futures on the Chicago Mercantile Exchange fell below $11 per bushel for the first time since October on Monday due to uncertainty about whether China will buy as much U.S. soybeans as Washington expects, as well as favorable weather in South America for a large soybean crop that may begin in about a month, brokers reported. Some analysts remain skeptical that China's purchases of U.S. soybeans will reach the target of 12 million metric tons mentioned by U.S. officials. In anticipation of the release on Tuesday of the U.S. Department of Agriculture's monthly supply and demand report, analysts surveyed by Reuters on average expect the government to raise its forecast for U.S. soybean ending stocks for 2025/26. Market participants will watch for ...