Expectation of increased purchases in the Chinese market boosts soybean prices to their strongest rally of the year.

Against the backdrop of recent consensus between China and the United States to expand agricultural trade, driven by expectations of purchasing in the Chinese market, the price of soybean futures on the Chicago Board of Trade (CBOT) has reached a nearly 15-month high, with the main contract exceeding the 1100 cents/bushel mark, marking the most vigorous price rally of the year. However, industry analysts point out that despite strong expectations of the benefits of potential Chinese purchases for the United States, under the impact of a 13% tariff, U.S. soybeans still remain less competitive compared to Brazilian soybeans.