Prices for Soybeans and Wheat Plummet on the Chicago Exchange Due to Weak Demand from China
On the Chicago Board of Trade (CBOT), futures for soybeans and wheat have significantly decreased after a recent multi-month peak. The decline was attributed to limited purchases of American agricultural products by China, which dampened traders’ optimism regarding demand growth following the announcement of a trade truce between the U.S. and China.
This is reported by AgroReview
Price Dynamics for Grains and Oilseeds
Following news of China canceling additional tariffs on imports from the U.S., traders hoped for a substantial increase in the export volumes of American agricultural products, particularly soybeans and wheat. However, soybean shipments from the U.S. remained subject to a 13 percent tariff, and the actual purchase volumes turned out to be lower than market participants had expected.
Against this backdrop, the most active soybean contract on the CBOT ended the week down 26 3/4 cents, at $11.07 1/2 per bushel, which is below the 16-month high recorded the day before. December futures for soybean meal fell by $12.10 to $312.70 per short ton, while soybean oil futures decreased by 0.34 cents to 49.35 cents per pound.
As of November 2025, soybeans were trading at $10.94 per bushel (down 25 3/4 cents), while cash prices dropped to $10.35 1/2 per bushel. January and March contracts also showed declining quotes.
The Impact of Limited Chinese Purchases on the Market
Limited volumes of Chinese purchases have also affected the wheat market. According to traders, China purchased two batches of American wheat totaling 120,000 tons, of which 60,000 tons were soft wheat and another 60,000 tons were spring wheat. This is significantly less than market participants had hoped for, expecting several hundred thousand tons.
“It’s about the ebb and flow of emotions regarding China,” said Arlan Suderman, chief commodities economist at StoneX.
December wheat futures on the CBOT fell by 18 1/2 cents to $5.36 1/4 per bushel, while March futures dropped to $5.50 3/4, marking a decline of 17 1/4 cents. A similar decrease was noted on other exchanges: KCBT, MGEX, and the European Euronext, where the December contract fell by 1.2% to €192.00 per ton. The price drop exceeded 3% after nearly a four-month high.
Traders note that overall international demand for wheat remains low, and competition from Argentine and Black Sea suppliers is increasing. In the Moroccan market, prices for new crop Argentine wheat are significantly lower than European prices. At the same time, in Germany, farmers are not rushing to sell at current Euronext prices while actively exporting barley and rapeseed.
In the corn market, prices also decreased due to large inventories and favorable harvesting conditions in the U.S., as well as good planting conditions in South America. December corn futures on the CBOT fell by 6.5 cents to $4.28-3/4 per bushel. Similar trends were observed in the quotes for March and May 2026.
Canola futures on the ICE exchange also dropped below important technical support levels, reaching a low not seen in over a week. This was due to both profit-taking by traders and weakness in the soybean market in Chicago. Additional pressure was caused by uncertainty in negotiations with China, although the weakening of the Canadian dollar provided some support. The January canola contract fell to CAD 633.70 per ton, March to CAD 644.70, May to CAD 654.70, and July to CAD 662.40 per ton.
The significant drop in prices for grains and oilseeds on global exchanges has heightened uncertainty in the market regarding future demand from China and potential changes in global trade flows.