Soybeans Prices Drop on Demand Worries

Soybean futures fell below $10.25 per bushel to a one-and-a-half-week low, pressured by trade tensions and shifting weather patterns as harvest approaches.

China continued to shun purchases from the US, while forecasts for improved Midwest rains reinforced expectations for a record crop.

Traders balanced the USDA’s outlook for large yields against reports of disease pressure and drought-hit fields, with upcoming rainfall seen as a boost for late-developing crops.

The absence of new-crop buying from China and lingering uncertainty over a US-China trade deal added further weight to prices.

Analysts pointed to a sharp reversal from last week’s corn-led rally to this week’s soybean-led decline, citing a lack of progress in trade negotiations.

While strong export demand has offered some support, ample global supplies and geopolitical strains continue to undermine sentiment.