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China soybean and relatives market daily: USDA report triggers sentiment swings; soybean meal continues weak range-bound trading

Source: Mysteel Apr 01, 2026 11:09
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Soybean Soybean Meal Demand Price Supply
CBOT soybean futures: for the main May contract settled at 1172.25, up 13.50 cents per bushel. The USDA's Planting Intentions report showed that 2026 U.S. soybean acreage is estimated at 84.70 million acres, up from 81.215 million acres last year and reaching the highest level in two years, but below market expectations of 85.549 million acres. The market rallied after the report was released, though this is seen more as a short-term sentiment-driven move. While planting acreage came in slightly below expectations, it still showed a notable increase year-over-year, and the pressure from a bumper harvest in South America remains. U.S. soybeans are expected to remain range-bound in the short term, with continued attention on U.S.-China trade relations and geopolitical developments.

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