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China soybean and relatives market daily: Robust US Soybean Exports offer solid support; DCE soybean meal pulls back in range-bound trading

Source: Mysteel Mar 24, 2026 11:10
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Soybean Soybean Meal Demand Price Supply
CBOT soybean futures edged higher on Monday, with the benchmark May contract rising 0.28% to close at $11.6350 per bushel. The market weighed fluctuating US-Iran geopolitical developments against strong export demand. Meanwhile, US soybean export inspections reached 1.1 million metric tonnes, up 12% from the previous week, with China as the top destination, providing solid support to the market.In South America, Brazil's soybean harvest reached 68% completion, still trailing the year-ago pace. Market attention is now focused on next Monday's USDA Prospective Plantings report, with soybean planted area expected to reach 86.1 million acres. In the near term, CBOT soybean prices are likely to continue trading within the $11.50$11.80 per bushel range.

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