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China had not booked any U.S. soybean cargoes at the start of the export season, the first time since at least the 1990s, according to USDA data. Beijing is using agricultural purchases as leverage in a broader trade dispute with Washington, while holding healthy stockpiles.
China is the world's largest soybean buyer, so withholding U.S. purchases removes a major source of export demand and pressures U.S. soybean prices. Its ability to wait on stockpiles prolongs the uncertainty.
straitstimes.comSep 19, 2025After 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.
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.
