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31.10.202516:17:47UTC+00Soybeans Rise to 15-Month Highs

Soybean futures have surged to over $10.90 per bushel, marking their highest point since July 2024, driven by renewed Chinese demand and indications of tightening supply. China recently secured its first US new season shipments, with COFCO acquiring approximately 180,000 metric tons slated for delivery in December and January. Additionally, US Treasury Secretary Scott Bessent announced China's commitment to purchase 12 million tons this season and 25 million tons annually over the next three years. This resurgence in Chinese shipments has rejuvenated previously dormant US export pathways and increased export premiums, consequently altering global market dynamics. Notably, China accounted for over 77% of Brazil’s soybean exports from January to September 2025. On the supply front, drought conditions in regions of central Brazil and Argentina, coupled with a substantial US harvest yielding a limited global carryout, have heightened market sensitivity to incremental demand increases.

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