Soybeans jump to 26-month high after US China 2026/27 sale
Soybean futures rose to around $12.5 per bushel, the highest since May 2024, lifted by a USDA-reported private sale of 333,000 metric tons of US soybeans to China for 2026/27 delivery.
Soybean futures climbed to around $12.5 per bushel, hitting their highest level since May 2024 as strong Chinese demand for US supplies boosted the market.
USDA reported a private sale of 333,000 metric tons of US soybeans to China for 2026/27 delivery.
The latest purchase adds to a broader wave of buying by the world’s largest soybean importer, with US soybean sales for 2026/27 already reaching 1.723 million tonnes in the latest reporting week, of which China accounted for 1.131 million tonnes, or nearly two-thirds of total sales.
China’s Sinograin sold 222,782 tons of the 290,000 tons of imported soybeans through an auction, showing continued strong demand.
Markets are now watching a potential late-September meeting between Presidents Trump and Xi that could shape agricultural trade.
Meanwhile, concerns over the US crop are adding further support after the USDA’s latest crop report showed the share of soybeans rated good-to-excellent falling to 60% from 61% a week earlier.