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Soybean prices surge to 13-month highs on optimism over U.S.-China talks

Soybean futures are at new highs as the market responds to reports China and the U.S. are closing in on a trade deal.

Market analyst Angie Setzer with Consus Ag Consulting says prices are at levels not seen since September 2024.

“On the November contract, I was just looking that up today. I know we’re at least 12 months (since) the highest we have been. And now, it was October 1st of last year, or the very end of September last year that we saw Nov ’25 beans actually trade up to that $11 mark.”

She tells Brownfield the soybean rally has spilled over support to corn and wheat.

“We’ve basically added a good 45 cents to this market in a very quick hurry, a lot of optimism there. The corn market also has added about 13, 14 cents. And the wheat market has found its bottom as well.”

Setzer says there’s room for the soybean market to move even higher.

“But it would take obviously a confirmation of size (and) intent of what China is going to take.”

She cautions farmers tempted to wait for prices to climb even more, saying this is a good time to get some sales on the books.