May 5, 2026 — Soybean futures posted solid gains on Monday, rising 13 to 15 cents across most contracts. The rally came despite weak export data and ongoing absence of Chinese buyers from US soybean purchases.
November 2025 soybeans settled at $11.16 per bushel, up 14 1/4 cents. January 2026 contracts closed at $11.30, up 13 cents. March 2026 soybeans finished at $11.39 1/4, up 13 1/2 cents. The cmdtyView national average cash bean price was $10.56 3/4, up 12 3/4 cents.
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Export shipments drop sharply
The US Department of Agriculture reported soybean export shipments at 1.089 million metric tons (39.99 million bushels) for the week ending November 6. That was 10.5% above the prior week but down 53.9% from the same week last year.
Pakistan was the top destination, receiving 186,773 metric tons. Egypt took 124,162 metric tons. Indonesia imported 94,883 metric tons. Marketing year exports for 2025/26 now total 8.889 million metric tons (326.626 million bushels) since September 1. That is 42% below the same period last year.
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China remained absent from the destination list. US FOB offers have risen above Brazilian offers in recent weeks, making US soybeans less competitive.
Brazil planting lags
Brazil’s soybean planting progress was estimated at 61% complete as of November 6. That trails the 67% pace from the same time last year. The slower planting could affect Brazil’s harvest timing and export availability later in the season.
Industry watchers note that the gap between US and Brazilian soybean prices may shift if Brazil’s planting delays persist. That could eventually bring Chinese buyers back to the US market.
Soymeal and soyoil also rise
Soymeal futures gained $0.40 to $2.90 on Monday. Soy oil futures rose 90 to 94 points. The gains in both products supported the broader soybean complex.
There were 76 deliveries issued on Friday night, bringing the total to 1,582 for the month. Delivery data is closely watched by traders as an indicator of physical market tightness.
The rally suggests some traders are betting that demand may pick up. But the export numbers tell a different story. The 53.9% year-over-year drop in weekly shipments is the largest decline in recent months.
What’s next for soybeans
US soybean prices face headwinds from weak Chinese demand and competitive Brazilian supplies. The rally on Monday may be short-lived unless export data improves in the coming weeks.
Traders will watch USDA’s weekly export sales report for signs of a turnaround. The next report is scheduled for release later this week.
China’s soybean purchases have been a key driver of US prices in previous years. Without them, the market may struggle to sustain gains.
This article was produced with AI assistance and reviewed by our editorial team for accuracy and quality.
