Soybeans trade sideways near multi-week lows amid USDA yield cut
Soybean futures hover below $1,160 per bushel in a sideways range near multi-week lows as a USDA cut to the 2026 yield is weighed against a record crop and higher ending stocks, plus a China demand sale.
Soybean futures hovered below $1,160 per bushel, trading in a sideways range near multi-week lows as markets weighed a lower US yield forecast against expectations for a record crop.
The USDA cut its 2026 soybean yield estimate to 52.7 bushels per acre from 53, reflecting the impact of extreme heat and dryness in parts of the Midwest.
However, higher planted acreage lifted projected production by 44 million bushels to a record 4.519 billion bushels, up 6% from 2025 and above the previous record set in 2021.
The larger crop also pushed projected 2026/27 ending stocks up to 320 million bushels from 310 million previously.
While recent heat and dryness supported prices, forecasts for cooler temperatures and ample rainfall in August and September could improve crop prospects.
Meanwhile, China provided a fresh demand boost, with the USDA confirming a sale of 244,000 metric tons of US soybeans for delivery in the 2026/27 marketing year.