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China soybean and relatives market daily: U.S. soybean export outlook leans positive, but high domestic inventories cap rebound

Source: Mysteel Sep 22, 2026 17:23
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Soybean Soybean Meal Demand Price Supply
CBOT soybean futures closed higher, boosted by optimistic export expectations, with near-term upside focus on resistance at 1,330 cents. As China-U.S. trade talks approach, overall market sentiment is leaning positive. If this week's talks can reach some kind of agreement or achieve tariff reductions, thereby driving China to increase purchases of U.S. agricultural products, soybean prices are expected to gain support. At present, U.S. soybean export demand continues to improve, with the USDA having repeatedly confirmed sales by private exporters to China and unknown destinations, while weekly reports also showed growth in export sales. Rainfall in the U.S. Midwest has delayed autumn harvesting, slowing the pace at which the new crop enters the supply chain. More showers this week may continue to limit progress, although the 6-10 day weather outlook shows some areas turning drier.

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