CBOT soybean futures closed sharply higher, driven mainly by demand and weather factors. First, strong demand provided support: the NOPA Crush Report showed that U.S. soybean crush volume in March 2026 reached 226.161 million bushels, up 8.3% from February and a significant 16.3% yearonyear, setting a record high for any March. Second, rain delays slowed planting progress, leading the market to price in a weather risk premium. Rainfall in the U.S. Midwest has disrupted early spring planting and field work, and the wet conditions are expected to continue affecting the pace of operations. The market is pricing in a risk premium for the rainy weather, with funds liquidating short positions. Third, cost support came from geopolitical tensions. U.S. soybeans are expected to fluctuate on the stronger side amid expectations of weatherdriven premium.