Soybean futures hovered around $10.70 a bushel, nearing their highest level since mid-December, as expectations rose that China would continue importing US soybeans. High-level US-China meetings at the World Economic Forum in Davos were described by Treasury Secretary Scott Bassett as “constructive,” after discussions with Chinese Vice Premier He Lifeng, boosting optimism for sustained Chinese purchases. Reports indicate that China met its target of buying 12 million tonnes of US soybeans after a late-October trade truce spurred buying. Meanwhile, rising soybean oil prices also supported soybean futures, as market anticipates that the us Environmental Protection Agency will soon release final biofuel regulations, including exemptions for small refineries. However, record soybean exports from South America could temper further price gains. Brazil’s ANEC forecasts January 2026 soybean exports at 3.79 million tonnes, a 238% increase from a year earlier and a historic high for the month.
