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Spot rates for corn and soybeans in the U.S. Midwest were mostly stable or higher on Tuesday as harvests of both crops were nearly complete and offers were up, brokers said.

DALIAN, CHINA (Reuters) - China’s soybean imports are expected to fall 9.5% in the marketing year ending September 2025, an executive at China’s COFCO said on Wednesday.

Uncertainty increased for U.S. soybean exporters this week with Donald Trump’s election win, since shipments to top customer China were severely curbed when a trade war began during Trump’s first presidency. However, U.S. soybean trade to China was already going poorly prior to Tuesday’s election, and some of the latest statistics are the most dismal since the trade war. As of Oct. 31, U.S. soybean sales for export to China in 2024-25 were a 16-year, non-trade-war low, down about 1% from the same date a year ago. Further, China accounts for only 44% of total U.S. soybean sales, an 18-year low when once again excluding the trade-war years of 2018 and 2019. Many U.S. soybean cargoes that eventually ship to China are originally sold without a specified destination, but this does not explain China’s absence. Combined sales to China and unknown destinations were up 8% on the year as of Oct. 31, but they accounted for only 65% of total sales. That is a 16-year, non-trade war low, and it