BEIJING — Chicago soybean futures eased on Tuesday, after hitting a three-month high in the previous session following a temporary truce in the US-China trade war and a bullish US Department of Agriculture report.
The most-active CBOT soybean contract eased 0.3 percent to $10.68 a bushel following three sessions of gains.
On Monday, China and the US reached a deal to temporarily reduce reciprocal tariffs, boosting hopes for revived Chinese demand for US farm goods.
The USDA’s supply and demand report estimated 2025-26 US soybean ending stocks at 295 million bushels, lower than analysts’ 362 million bushels estimate.
For 2024-25, US soy stocks were pegged at 350 million bushels, below April’s forecast of 375 million bushels and analysts’ expectations of 369 million bushels.
China’s benchmark Dalian soymeal futures rose 0.21 percent on the bullish USDA report, shrugging off news of a temporary truce in the China-US trade war, as analysts cautioned that uncertainty could persist ahead of the US soybean marketing season.
The Asian nation projected a decline in soybean imports for the 2025/26 crop year due to reduced soymeal use in its livestock sector.
