Soybean futures hovered around $10.6 per bushel, rebounding slightly from $10.5 per bushel before Christmas, modestly supported by sustained Chinese buying demand. According to the latest US Department of Agriculture (USDA) export sales report, US soybean net sales to China for the 2025/26 marketing year reached 1.383 million tons for the week ending December 11, pushing cumulative sales to 5.409 million tons. Industry consultancy StoneX noted that China has already purchased over 8 million tons of US soybeans, indicating steady progress toward its pledged 12-million-ton target. On the supply side, the risk of tightening soybean supply has further increased. The USDA’s December supply and demand report projects US soybean production for the 2025/26 marketing year at 115.75 million tons, down 2.8% year-on-year.
