Soybeans Dalien soybean futures and spot prices have defied seasonal trends since October 2025. They have been rising due to structural shortages of high-protein soybeans. Liu Mei, soybean analyst for Shanghai Steel Network, blames the situation on a poor harvest last year in the south, a delayed harvest in the northeast, holiday demand, and the resumption of work and production.  China’s soybean imports in March were down nearly 15 percent to 4.02 MMT, compared with a forecast of 6.4 MMT. They were 16.58 MMT during January – March, a year-on-year decline of 3.1 percent. Meanwhile, Brazil shipped 9.97 MMT of soybeans to China in March, which was down 1.1 MMT from March 2025. Brazil’s exports to other destinations were...