Partial resumption of Chinese purchases from the US affects Brazilian soybean exports.

Signals of a partial resumption of soybean purchases by China in the United States have put pressure on export premiums in Brazil, according to surveys by Cepea.

According to the Research Center, contracts for shipment in 2026 have returned to negative levels, a trend not seen since July of this year.

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Even so, soybean prices in the physical market remained firm throughout the last week. Brazilian sellers showed a preference for negotiating new lots with immediate delivery (spot) and long-term payment, in order to guarantee current price levels, as explained by researchers from Cepea.

Regarding the 2025/26 harvest, Conab projects a record 177.6 million tons. In this estimate, the Company already anticipates lower productivity in the Midwest of the country, due to the possible impacts of the La Niña phenomenon.

At the same time, good rainfall in recent days has brought relief and optimism to the sector.