# Nicholson: U.S. soybean futures hold, but basis "sloppy" without China buys - Brownfield Ag News

> Rabobank's Stephen Nicholson said US soybean futures have held up relatively well, but basis levels are weakening in the US interior due to no demand at the Gulf or Pacific Northwest. No confirmed Chinese purchases of US new-crop soybeans have been made, and he sees little optimism for shipments to China soon.

- Date: 2025-09-30 · published 2025-09-30T12:00:00.000Z
- Category: trade · region US · magnitude low
- Page: https://feedsoft.ai/events/22899-nicholson-u-s-soybean-futures-hold-but-basis-sloppy-without-china-buys
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Weak US basis and absent Chinese demand reduce farmer returns and signal continued pressure on US soybean prices until a trade resolution.

## Read by commodity

- SBM: neutral
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-04-05 | [Soybeans, corn down on lack of China deal - Brownfield Ag News](https://feedsoft.ai/events/59636-soybeans-corn-down-on-lack-of-china-deal-brownfield-ag-news.md) | -1.2% | -8.5% |
| SOY | 2017-01-23 | [Soybeans down on commercial pressure - Brownfield Ag News](https://feedsoft.ai/events/73026-soybeans-down-on-commercial-pressure-brownfield-ag-news.md) | -1.7% | -3.3% |
| SOY | 2016-12-19 | [Soybean exports could come to screeching halt - Brownfield Ag News](https://feedsoft.ai/events/73503-soybean-exports-could-come-to-screeching-halt-brownfield-ag-news.md) | -4.6% | +3.7% |
| SOY | 2016-07-19 | [Soybeans, corn, wheat give back gains - Brownfield Ag News](https://feedsoft.ai/events/7423-soybeans-corn-wheat-give-back-gains-brownfield-ag-news.md) | -8.8% | -5.1% |
| SOY | 2020-10-30 | [Phase One, hog rebuilding have fueled China's buying spree - Brownfield Ag News](https://feedsoft.ai/events/50644-phase-one-hog-rebuilding-have-fueled-china-s-buying-spree-brownfield-ag-news.md) | +4.8% | +13.3% |
| SBM | 2019-02-01 | [Soybeans, corn up, but waiting for more details on China - Brownfield Ag News](https://feedsoft.ai/events/60636-soybeans-corn-up-but-waiting-for-more-details-on-china-brownfield-ag-news.md) | -1.5% | -2.2% |
| SBM | 2018-12-03 | [Soybeans, corn up, but off day's highs - Brownfield Ag News](https://feedsoft.ai/events/5834-soybeans-corn-up-but-off-day-s-highs-brownfield-ag-news.md) | -0.1% | +0.9% |
| SBM | 2020-05-15 | [Soybeans down, despite demand from China - Brownfield Ag News](https://feedsoft.ai/events/53164-soybeans-down-despite-demand-from-china-brownfield-ag-news.md) | -0.9% | +1.3% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/news/nicholson-u-s-soybean-futures-hold-but-basis-sloppy-without-china-buys/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.