Soybeans Collapsing Following Trump/Xi Meeting

Soybeans are trading with 30 to 44 cent losses in most contracts on Thursday. The cmdtyView national average Cash Bean price is down 44 cents at $11.20. Soymeal futures are back down $7.20, with Soy Oil futures falling 108 points. There were 80 deliveries issued against May meal futures overnight, with 41 issued against May beans. May futures expire today. 

A meeting between President Trump and China’s President Xi in Beijing concluded early this morning. Few details were released following the meeting, though Secretary Bessent stated that “soybeans are all taken care of.”

USDA reported a private export sale of 252,000 MT of soybeans to unknown destinations this morning, with 120,000 MT for old crop and 132,000 MT for new crop.

The weekly Export Sales report showed just 102,059 MT of old crop bean business, on the low side of analysts are looking for 100,000 to 500,000 MT. That was the marketing year low for 2025/26 bean sales and 28.1% below the previous week. New crop business was on the high end of the estimate range of 0-100,000 MT at 80,800 MT. 

Soybean meal export sales were 347,762 MT, in the middle of trade ideas of 150,000-500,000 MT. Bean oil business was at a net reduction of 558 MT, in the range of estimate of between net reductions of 2,000 to net sale of 12,000 MT. 

NOPA data will be released on Friday, with traders looking for 214.03 mbu of soybeans crushed in April. Soybean oil stocks are seen at 1.954 billion lbs. 

The Rosario Grains Exchange estimates the Argentina corn crop at 50 MMT, a 2 MMT increase from their previous number. CONAB updated their Brazilian crop outlook for 2025/26, raising it by 0.98 MMT to 180.13 MMT. 

Jul 26 Soybeans  are at $11.84 3/4, down 44 1/4 cents,

Nearby Cash  is at $11.20, down 44 cents,

Aug 26 Soybeans  are at $11.82 3/4, down 40 3/4 cents,

Sep 26 Soybeans  are at $11.68, down 35 1/2 cents,

New Crop Cash  is at $11.14 1/2, down 32 1/4 cents,