InfoSAWIT, SINGAPORE – Chicago soybean futures remained relatively steady on Friday, holding gains that pushed prices to their highest level in the past three months amid expectations of increased Chinese purchases of United States-origin cargoes.

According to Reuters, as published online by InfoSAWIT on Monday (February 23, 2026), the most active soybean contract on the Chicago Board of Trade (CBOT) edged down by a quarter cent to US$11.55-3/4 per bushel as of 02:41 GMT. Meanwhile, wheat rose by a quarter cent to US$5.67 per bushel and corn gained 0.1% to US$4.26-1/4 per bushel.

A vegetable oil trader in Singapore noted that the market is currently anticipating stronger US soybean purchases by China, supported by robust domestic soybean crushing activity in the United States.

However, planting prospects in the US as well as supplies from South America are expected to cap further price gains in the medium term.

On a weekly basis, soybean prices rose by approximately 2%, marking a third consecutive week of gains. In contrast, corn declined by about 1%—its biggest weekly drop in more than a month—while wheat climbed over 3% for a second straight week.

The market is also awaiting China’s potential return to US soybean purchases following the Lunar New Year holiday next week. Earlier this month, US President Donald Trump stated that China is considering additional purchases of up to 8 million metric tonnes.

Separately, the US Department of Agriculture (USDA) expects US farmers to plant more soybeans and less corn in 2026 compared to last year, although production of both crops is projected to remain the second largest on record.

USDA estimates corn planted area at 94 million acres this year, down from a record 98.8 million acres in 2025, while soybean planted area is forecast to rise to 85 million acres from 81.2 million acres previously.

Meanwhile, the International Grains Council projects tighter global wheat supplies in the 2026/2027 season amid a potential decline in global corn production. (T2)