FX.co ★ Soybean Futures Drop to 1-Month Low

Soybean futures slipped below $11.50 per bushel, hitting a one‑month low, after a temporary US–Iran ceasefire sparked a sharp decline in crude oil prices and undercut demand for crop-based biofuels. The two-week truce eased concerns over prolonged supply disruptions, following weeks of reduced traffic through the Strait of Hormuz that had impeded fuel and fertilizer shipments vital to agricultural production.

The steep drop in oil prices intensified pressure on vegetable oils, including soy, which are closely linked to energy markets via biofuel demand. US soybean exports also faced headwinds from weak global buying and stiff competition from South American suppliers. Weekly export sales for the 2025/26 marketing year fell to 353,300 tons, an 18% decline from the prior four-week average, underscoring muted overseas interest as cheaper Brazilian cargoes continue to dominate.

Meanwhile, markets remained focused on the prospect of renewed US–China trade talks, amid hopes that stronger demand from China — the world’s largest soybean importer — could provide some support.