Global Soybean Prices Rise Due to Increased Exports to China and Other Countries
Global soybean prices in Chicago strengthened following a recent surge in export sales to China and other countries. As a result of trading, January soybean futures on the CBOT rose by 4 cents to $10.91-1/4 per bushel, recovering from a drop to the lowest level since October 30. The increase was supported by news of significant export deals: the U.S. Department of Agriculture confirmed the sale of 136,000 tons of soybeans to China, another 331,000 tons to unspecified countries, and 120,000 tons of soybean meal to Poland.
This is reported by AgroReview
Grain Market Dynamics: Wheat and Corn Prices Decline
Despite the rise in soybean prices, wheat and corn futures in the U.S. continued to decline. March wheat futures on the CBOT closed down by 5 cents to $5.29-1/2 per bushel, reaching a low not seen since the end of October. The main reason cited is the increase in global stocks — the U.S. Department of Agriculture raised its production forecasts for wheat in Russia, Australia, Canada, and other exporting countries. In the European market, March wheat prices on Euronext fell by 0.3% to €189.75 per ton.
The corn market also felt pressure due to expectations of a record harvest in South America and weak demand. March corn futures on the CBOT dropped by 3-3/4 cents to $4.44-1/4 per bushel. According to LSEG Research & Insights, the corn harvest in Argentina for the 2025/26 season is expected to be 54.4 million tons, although dry conditions in some regions pose risks to yields.
Canola: Prices Decline Amidst a Challenging Market Situation
The canola market is showing instability: canola futures on the Intercontinental Exchange ended Wednesday’s trading lower. This was influenced by price fluctuations and limited exports to China, although domestic processors in Canada are operating at full capacity. The January canola contract fell nearly 14 Canadian dollars to 615.40 Canadian dollars per ton, while the March contract dropped by 16 dollars to 626.80 Canadian dollars per ton.
Bill Credock, a trader and farmer from Winnipeg, believes the canola market will remain challenging going forward:
“I think we will be disappointed and scratching our heads about how to secure something decent for next year,” he said.
Credock predicts a potential further decline in prices for the nearest contracts by another 15-20 Canadian dollars per ton by the New Year and by 20-40 dollars in the first half of 2026. Support for canola in the global market remains ambiguous: prices for canola (MATIF) and soybeans (Chicago) are rising, while soybean and palm oil show stability.
On Wednesday afternoon, the Canadian dollar strengthened to 72.39 U.S. cents. The trading volume for canola futures was 73,406 contracts, of which 53,990 were spreads. Prices for major canola contracts: January — 615.40 Canadian dollars per ton (down 4.50), March — 626.80 (down 5.00), May — 638.40 (down 5.50), July — 645.80 (down 6.30).
Meanwhile, agricultural product prices in the prairies fell below 13 Canadian dollars per bushel, further complicating the situation for farmers. Among the main factors putting pressure on the market are limited exports to China and the lack of necessity to raise prices to attract canola from local producers.