InfoSAWIT, BEIJING – Soybean prices on the Chicago exchange weakened early this week, ending a two-session rally. The lack of demand from China is once again putting pressure on the market, while the outlook for the US harvest adds to the negative sentiment.

The most active soybean contract on the Chicago Board of Trade (CBOT) fell 0.29% to US$10.43-2/8 per bushel on Monday (9/15) at 03.25 GMT. Late last week, the US Department of Agriculture (USDA) projected soybean yields at 53.5 bushels per acre, slightly higher than the August forecast of 53.6 bushels.

In the midst of the main sales season, US farmers are missing out on billions of dollars in opportunities due to the lack of soybean purchases from China, the world's largest importer. The slow progress of trade negotiations between Washington and Beijing is cited as one of the main factors.

As reported by Business Recorder on Wednesday (9/17/2025), US and Chinese officials previously concluded the first day of meetings in Madrid, the fourth round of talks in four months in European cities, to ease tensions from the tariffs of the Donald Trump era. The dialogue was scheduled to resume on Monday morning local time, although analysts believe a major breakthrough is still unlikely.

Pressure is also felt in China's domestic market. Soybean meal futures on the Dalian exchange fell 1.46%, while rapeseed meal futures in Zhengzhou dropped 2.04% as of 03.38 GMT.

In addition to soybeans, the CBOT corn contract corrected 0.81% to US$4.26-4/8 per bushel, in line with the forecast for a record US harvest. The USDA increased its 2025 corn production forecast to 16.814 billion bushels from 16.742 billion bushels a month earlier. However, the threat of fungal diseases in Midwest corn fields is feared to put a damper on yields.

Meanwhile, wheat prices gained slightly, up 0.05% to US$5.23-6/8 per bushel. However, abundant global supplies continue to weigh on market sentiment. (T2)