Soybean prices decreased by 1 to 2 ½ cents on Wednesday morning trade, following steady to slightly higher performance the day before. Open interest rose by 2,013 contracts. Cash bean prices averaged $9.32 1/2. Soymeal futures varied, while Soy Oil remained steady to 2 ticks lower. President Trump hinted at possibly cutting ties with China over soybean trade.

Export Inspections data revealed 994,008 MT of soybeans shipped in the week ending October 9, up 26.9% from the previous week but down 49.9% from last year. China’s absence in the data is notable due to suppressed seasonal movement. Mexico, Spain, and Bangladesh were top destinations. Brazil’s soybean production for 2025/26 is projected to be 177.64 MMT.

NOPA crush data for September is anticipated to total 186.34 mbu. Current soybean prices show Nov 25 Soybeans at $10.06 1/2, Nearby Cash at $9.32 1/2, Jan 26 Soybeans at $10.24 1/4, and Mar 26 Soybeans at $10.39 1/2. Brazil’s October soybean exports are estimated at 7.31 MMT, up from the previous week.

The soybean market continues to fluctuate due to trade tensions and export data. The industry braces for potential changes in business relationships with China as President Trump hints at retaliatory measures. Prices and production estimates remain in focus as market participants closely monitor developments in the soybean sector.

Read more at Yahoo Finance: Soybeans Losses Continuing Early on Wednesday