Soybean futures rallied toward $10.6 per bushel, the highest since late June, as renewed optimism over China’s soybean purchases bolstered market sentiment. Traders are closely watching a highly anticipated meeting this week in South Korea between US President Donald Trump and Chinese President Xi Jinping. Following the latest China–US trade consultations, the Chinese side said both countries reached basic consensus on key economic and trade issues, including agricultural trade. US Treasury Secretary Scott Besent noted that, under the soon to be finalized agreement, China is expected to purchase a “substantial” volume of soybeans. On the supply side, Brazil is projected to increase soybean acreage by 3.5% to 121 million acres, while Argentina’s soybean processing in September climbed to 4.13 million tonnes, the highest level in 11 months.
