Funds increased their net long in CBOT soybean futures and options to 183,711 contracts from 147,380 in the prior week. In the seven weeks ended March 6, they bought a total of 287,108 soybean futures and options contracts, significantly more than ever before.
Chinese officials have said U.S. soybeans are a prime target for retaliation against tariffs imposed by the Trump administration on steel and aluminium imports, according to the American Soybean Association. China accounts for approx. one third of all US soybean exports.