Soybean Market Update: Gains Amid Changes in Export Policies

The soybean market finished Thursday’s trading session on a positive note, with contracts rising by fractions up to 3 ¼ cents, particularly in front-month contracts. According to cmdtyView, the national average cash price for soybeans increased by 3 ½ cents, bringing it to $9.36 1/4. In contrast, soymeal futures dipped by $1.10 to $3.10, while soy oil futures saw gains ranging from 24 to 45 points.

Shifts in Argentina’s Export Tax Policies

Recently, Argentina decided to lift its suspension on export taxes following the achievement of a $7 billion export target within the first few days. This change is expected to influence the global soybean trade significantly. Furthermore, a spokesperson from China’s commerce ministry urged the United States to remove “unreasonable tariffs,” in response to the ongoing decline in soybean purchases from the U.S. President Trump has also mentioned the possibility of allocating aid to producers funded by tariff revenues, although details remain vague.

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Export Sales Data Update

The latest export sales data, released this morning, reflected 724,459 metric tonnes (MT) of soybean sales for the 2025/26 period in the week ending September 18. This marks a significant drop of 21.5% compared to the previous week and only half of the volume seen during the same week last year, primarily due to minimal activity from China. The primary purchases came from Egypt, which bought 166,200 MT, followed by Taiwan with 115,300 MT, and Mexico acquiring 85,900 MT.

On the meal sales front, a total of 226,164 MT was reported, falling short of the estimated range of 150,000 to 450,000 MT, with 79,613 MT earmarked for the current marketing year and 146,551 MT for 2025/26. Soybean oil sales reached a total of 29,922 MT, exceeding the estimate range of potential reductions or sales, with net reductions of 23,296 MT for the current marketing year and sales of 53,218 MT forecasted for 2025/26.

Closing Prices

As the trading session concluded, the following closing prices were reported:

• November 2025 Soybeans: $10.12 1/4, up 3 1/4 cents
• Nearby Cash Soybeans: $9.36 1/4, up 3 1/2 cents
• January 2026 Soybeans: $10.31 1/4, up 2 3/4 cents
• March 2026 Soybeans: $10.47 1/2, up 2 3/4 cents

On the date of publication, Austin Schroeder did not hold positions in any of the securities mentioned in this article. All the information and data in this article are for informational purposes only. This article was originally published on Barchart.com.