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China soybean and relatives market daily: Soyoil futures fluctuate at high levels, soymeal spot prices oscillate with a weak bias

Source: Mysteel Mar 04, 2026 14:01
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Soybean Soybean Meal Demand Price Supply
Driven by rising crude oil, CBOT soybean futures closed higher on Tuesday, with soymeal and soyoil recovering simultaneously during the session. Agricultural consultancy AgRural reported that Brazil's soybean production is expected to reach 178 million tons, downwardly adjusted from the previous forecast of 181 million tons, due to drought-induced yield losses in Rio Grande do Sul state. As of last Thursday, Brazil's soybean harvest progress had reached 39%, lagging behind the 50% recorded during the same period last year. Meanwhile, the USDA indicated in its February outlook that U.S. soybean planted area is expected to expand in 2026, with market attention gradually shifting toward the planting intentions report set to be released at the end of March.

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