Soybean futures retreated to around $10.40 per bushel, pressured by uncertainty over Chinese demand. In anticipation of a potentially prolonged trade dispute, China is building a record-high soybean inventory, which is curbing its purchasing intentions for new US soybeans for the 2025/26 marketing year. Chinese soybean imports rose to 1.15 million tons in the first two weeks of September, up 140,000 tons from the prior period and 260,000 tons above the three-year average, but the majority of these imports came from Brazil.
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