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China soybean and relatives market daily: Soybean meal futures fluctuate in a narrow range with insufficient upward momentum

Source: Mysteel Apr 17, 2026 13:46
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Soybean Soybean Meal Demand Price Supply
CBOT soybean futures traded in a range as U.S. soybean export sales hit a new low for the year. USDA weekly data showed that net sales of U.S. soybeans in the week of April 9 totaled only 247,900 tonnes, the lowest for the 2025/26 marketing year, down 16% from the previous week and 39% from the four-week average, highlighting international competitive pressure. In addition, weather forecasts indicate that some parts of the Midwest will see dry conditions in parts of the next two weeks, which could accelerate planting progress and offset previous weather premium expectations. Meanwhile, Brazilian supply continues to weigh on prices; Abiove raised its export forecast to a record 113.6 million tonnes, with bumper crop expectations persistently pressuring the market. However, there is support on the downside for U.S. soybeans.

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