Soybeans Pick Up to Over 3-Week High
Soybeans rose to around $12.20 per bushel, their highest level since the more than two-year peak of $12.50 reached on July 24, supported by growing concerns over the condition of the US Midwest crop. Recent field assessments pointed to below-average soybean pod counts in Indiana and Nebraska, while excessive rainfall in parts of the region has raised further doubts about potential yields. The USDA has also recently reduced its crop estimates and lowered condition ratings, adding to supply concerns. Demand prospects are providing additional support, particularly from China. The USDA confirmed a sale of 136,000 metric tons of US soybeans to China for delivery during the 2026/27 season, while traders reported that Chinese buyers have recently booked more than 7 million tons. Strong domestic demand is also reinforcing the positive outlook, with US soybean processing in July increasing 10.7% from a year earlier.
Soybeans rose to around $12.20 per bushel, their highest level since the more than two-year peak of $12.50 reached on July 24, supported by growing concerns over the condition of the US Midwest crop.
Recent field assessments pointed to below-average soybean pod counts in Indiana and Nebraska, while excessive rainfall in parts of the region has raised further doubts about potential yields.
The USDA has also recently reduced its crop estimates and lowered condition ratings, adding to supply concerns.
Demand prospects are providing additional support, particularly from China.
The USDA confirmed a sale of 136,000 metric tons of US soybeans to China for delivery during the 2026/27 season, while traders reported that Chinese buyers have recently booked more than 7 million tons.
Strong domestic demand is also reinforcing the positive outlook, with US soybean processing in July increasing 10.7% from a year earlier.