Soybeans Climb Above $9.80 After Trump Calls for China to Quadruple Orders

Soybean futures jumped over 2% to above $9.80 per bushel after U.S. President Donald Trump said he hoped China would quadruple its soybean orders from the U.S. China, the world’s largest soybean importer, has increasingly favored South American supplies in recent years due to trade frictions, diplomatic strains, and competitive pricing from Brazil, now the top global exporter. While trade talks between U.S. and Chinese officials continue, market attention is also on the USDA’s August 12 report, which could revise corn and soybean production estimates. Analysts expect favorable weather in key U.S. growing regions to support a bumper harvest later this year, intensifying concerns about abundant supplies and potential downward pressure on prices, even if Chinese demand rebounds.