Soybean futures extended losses on Monday, hovering near $11.6 per bushel, pressured by weak demand for U.S. supplies and intense competition from South America. The U.S. Department of Agriculture reported last week that weekly soybean export sales for the 2025/26 season fell to 353,300 tons, down 18% from the prior four-week average, signaling subdued overseas interest as cheaper Brazilian shipments continue to dominate global trade.

Still, losses were limited by higher crude oil prices amid escalating tensions involving U.S. President Donald Trump and Iran, which supported biofuel-linked demand. Higher energy prices tend to boost demand for soybean oil, a key feedstock in biodiesel production, thereby indirectly supporting soybean prices. Meanwhile, markets remain focused on potential U.S.-China trade talks, with investors watching for signs of stronger demand from China, the world’s largest soybean importer.

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