GRAINS-Soybean futures end up in recovery from two-week low

By Tom Polansek

CHICAGO, May 1 (Reuters) - Chicago Board of Trade soybean futures ended higher on Thursday as prices rebounded after sliding to a two-week low amid worries about U.S. export demand, analysts said.

Corn futures eased, while wheat ended nearly unchanged.

Technical buying helped soybeans recover, though the market continues to face challenges from U.S. President Donald Trump's trade war with top-importer China, traders said.

Soybean values weakened recently in Brazil, the world's biggest exporter of the oilseed, increasing competition for U.S. supplies on the global market, they said.

In Argentina, another global supplier, farmers this week made their largest single-day sales of soybeans in 2025, according to the country's Rosario grain exchange.

"South America is a lot cheaper than us," said Don Roose, president of broker U.S. Commodities.

Most-active CBOT soybeans Sv1 closed up 5-3/4 cents at $10.50-1/4 per bushel after falling earlier to a two-week low of $10.36-3/4 per bushel.

After trading ended, the U.S. Department of Agriculture said processors in March crushed 6.2 million tons, or 206.6 million bushels, of U.S. soybeans. Analysts on average expected 6.165 million short tons, or 205.5 million bushels, according to a Reuters survey.

U.S. soybean export sales were 428,200 metric tons for 2024-25 in the week ended on April 24, up 27% from the prior four-week average, according to USDA. Analysts expected 150,000 to 600,000 metric tons.

Trump's trade war with China looms over the market. Washington has approached China seeking talks over his 145% tariffs, a social media account affiliated with Chinese state media said.

Weekly U.S. corn export sales were 1 million metric tons, down 13% from the previous four-week average and within analysts' expectations.

The USDA since April 24 has announced sales of U.S. corn to buyers including Mexico, Spain and unknown destinations in a daily reporting system.

"USDA export sales were again very good for corn," said Terry Reilly, senior agricultural strategist for Marex.

The most-active corn contract Cv1 finished down 3-1/4 cents at $4.72-1/4 per bushel, while wheat Wv1 closed up 1/4 cent at $5.31 per bushel.