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Soybean futures fell to their lowest since late August after the US and China detailed tariff cuts on about $30 billion of farm and other imports, which excluded soybeans beyond seeds. Soybean meal, wheat and corn also declined, with soybean meal falling as much as 3.3%.
Soybeans being left out of tariff relief keeps Chinese commercial demand muted, while cuts on corn, wheat and sorghum could support those grains if purchases follow.
farmprogress.comBloombergSep 28, 2026After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
