Soybean Prices Expected to Remain Soft Amid Prospects of Increased U.S. Production

09-Apr-2026 01:24 PM

Chicago. This year, soybean acreage in the U.S. is likely to expand into some areas traditionally used for planting corn. Indications of rising imports of U.S. soybeans by China have boosted farmer enthusiasm and interest in the crop.

According to a report by the U.S. Department of Agriculture (USDA), soybean planted acreage for the current year is projected to increase by 4 percent compared to last year, reaching 84.7 million acres.

According to the report, among the 29 U.S. states where soybeans are cultivated, 20 states are expected to see acreage remain either at par with or exceed last year's levels.

Meanwhile, the International Grains Council has projected that global soybean production will rise from 425.9 million tonnes in the 2025-26 season to 442.3 million tonnes in the 2026-27 season—a new record high.

According to a leading ratings agency, soybean futures prices on the Chicago Board of Trade (CBOT) have risen by approximately 12 percent since the beginning of the current year.

The agency has projected the futures price for this key oilseed for the coming month to be $11.30 per bushel, which is 7.7 percent higher than last year.

The agency notes that if the upcoming harvest proves to be robust, soybean prices could soften further during the final quarter of the current year. Meanwhile, soybean production in Brazil is projected to surge rapidly, reaching an all-time high.

This could lead to intense competition between the U.S. and Brazil in the Chinese soybean market. According to the agency, during the October-December 2026 quarter—when there is a strong influx of the new crop in the U.S.—the average soybean futures price could drop to $11.05 per bushel.