China Is Buying U.S. Soybeans but Private Crushers Are Not

Soybean prices rallied in September as China began buying U.S. soybeans and strong crush and biofuel demand lifted soybean oil. Isabela Garcia, StoneX Brazil, Senior Market Intelligence Analyst, explains the September rally, China's buying, and El Niño's impact on South America's new crop. China has bought roughly half of its U.S. soybean commitment for the season, yet private crushers remain on the sidelines amid weak crush margins and an additional 10% tariff. Harvest pressure and the exclusion of soybeans from the latest U.S.-China tariff relief pulled prices back, while biofuel demand kept soybean oil supported. El Niño typically raises drought risk in northern Brazil, whereas Argentina usually gets more rain. Download the StoneX 2026 Commodities Outlook: https://www.stonex.com/en/insights/commodities-outlook/?utm_source=youtube&utm_medium=qr_code&utm_campaign=mi_outlook_q4_26 Discover Actionable Energy Insights with StoneX Market Intelligence: https://shop.stonex.com/collections/grains?utm_source=youtube&utm_medium=qr_code&utm_campaign=mi_outlook_q4_26_sxtv_isabela_garcia 00:00 - Soybeans Stage a Fast Comeback 00:28 - Soybean Prices Spike Then Slip 02:15 - China's Soy Pledge on Trial 03:29 - Harvest Meets Biofuel Demand 04:46 - El Niño Tests Brazil's North Like and subscribe for more financial market insights. #Soybeans #StoneX #IsabelaGarcia #ElNino --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@StoneX_Official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social