Overview
- Chicago futures closed around $411 per tonne, the highest in 15 months, with January trading near $416 after a two‑week rally.
- U.S. Treasury Secretary Scott Bessent said China will buy about 12 million tonnes in the coming months and 25 million tonnes annually for the next three years.
- Chinese officials publicly signaled plans to increase U.S. farm imports but did not confirm the specific volumes or timing cited by Washington.
- Argentina has shipped roughly 12 million tonnes of raw soybeans to China this year, about four times its recent average, reducing domestic processing.
- Soymeal prices rose about 15% in October, improving Argentine crushing margins, while analysts warn of port bottlenecks and note Brazil’s strong harvest could limit further gains.