Soybean futures climbed toward $10.59 per bushel, the highest since early July, supported by renewed optimism over Chinese purchases after Treasury Secretary Scott Bessent said President Trump and his Chinese counterpart Xi Jinping could discuss “substantial” soybean deals in a potential meeting later this week. Sentiment was further bolstered by Japan, where the new government is preparing a package including U.S. soybeans to present to Trump during upcoming trade and security talks. Meanwhile, Brazil, the world’s largest soybean exporter, is expected to harvest a record 178.5 million metric tons in 2025/26, up from 171.8 million a year earlier, according to oilseed group Abiove. With the U.S. Department of Agriculture’s weekly export sales report suspended due to the federal funding lapse, markets are relying on private surveys for near-term demand signals.
