U.S. soybean futures retreated on Thursday after two days of gains, pressured by profit taking and technical selling and on growing concerns about a promised farmer aid package and a breakthrough in U.S.-China trade negotiations.
Expana has raised its monthly grain production forecast for European Union crops for the 2025/26 season, projecting soft wheat output will hit a record high and barley a 17-year high.
U.S. soybean futures firmed on Tuesday on technical and seasonal buying after two sessions of losses, as traders monitored U.S. harvesting, Brazilian planting progress and updates on trade negotiations with China and a U.S. farmer bailout package.
Bangladesh has approved the purchase of about 220,000 metric tons of U.S. wheat under a government-to-government deal aimed at easing trade tensions with Washington after import tariffs were imposed.
U.S. soybean futures eased on Monday on active harvesting across the Midwest farm belt and brisk early planting as well as exports in rival supplier Brazil, and as top importer China continues to shun U.S. supplies.
U.S. soybean futures closed lower on Friday as pressure from a fast-advancing U.S. harvest offset early-session support from hopes that upcoming U.S.-China talks could revive stalled soybean trade.
Thanks to a stretch of good weather, Alberta farmers advanced their harvest 12 points during the week ended Sept. 29 to 89 per cent complete. The Alberta agriculture department said that’s seven points above the five-year average.
Chicago soybean futures ticked higher on Thursday, continuing the previous day’s rebound as the market assessed chances for a resumption in Chinese demand following comments by U.S. President Donald Trump.
Combining in Saskatchewan is in the home stretch as the province’s agriculture department reported it at 84 per cent complete. Although the harvest advanced 16 points during the week ended Sept. 29, it was eight points behind the five-year average.