FX.co ★ Soybean Futures Hit 2-Week Low

Soybean futures fell below $11.80 per bushel, retreating from recent multi‑year highs to a two‑week low, as favorable U.S. growing conditions and expectations of ample global supplies pressured prices. Improved weather across key U.S. production areas strengthened confidence in yield prospects, while recent rainfall eased drought concerns in parts of the Plains and reduced fears of planting delays in the Midwest. Traders now await the latest USDA crop ratings, with as much as 70% of U.S. soybean fields expected to be classified as in good to excellent condition.

Additional downward pressure came from soft demand in China, the world’s largest soybean importer, coupled with expectations of robust harvests in South America. Large old‑crop inventories in the United States and profit‑taking by funds following the recent rally also contributed to the selloff. The decline in soybean prices occurred despite higher crude oil prices, which were supported by renewed tensions in the Middle East, as optimism over crop prospects and subdued export demand more than offset any support from energy markets.