A smaller assessment of soybeans worldwide led to an upward trend at the beginning of the week, although this was short-lived. At the end of the week, March soybean prices fell by 23.60 US cents to 1,019.00 US cents/bushel (363.82 €/t). US export sales had the greatest impact. According to the statistics, business picked up again after the vacation week. In the week ending January 9, 569,142 tons were sold for 2024/25, which is in the mid-range of trade estimates of 300,000 to 800,000 tons. This marks the highest level in three weeks and represents a double increase compared to the previous week. China was the largest buyer with 213,900 tons. However, the high sales to China once again triggered concerns on the market. There were fears that the new US President Donald Trump might reignite an economic dispute with China, similar to the one he had during his first term in office. The US, the second largest producer of soybeans after Brazil, is facing a market in which China is the largest consumer of this product.
ZMP Live Expert Opinion
The soybean market showed a recovery at the beginning of the week, supported by strong export sales, especially to China. However, geopolitical uncertainties and fears of a possible trade conflict dampened the bullish sentiment and led to a decline in prices at the end of the week. The market remains volatile in the short term, while long-term risks could continue to influence price trends.
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