Soybeans push above $13 as China buying lifts futures

Soybean futures rose above $13.0 per bushel, trading near their highest level since December 2023 as fresh Chinese buying and signs of tightening crop conditions supported prices.

Private exporters reported fresh sales of 202,000 metric tons of U.S. soybeans to China for delivery in the 2026/27 marketing year, following a 136,000-ton purchase a day earlier.

The latest deals brought Chinese purchases announced since the start of September to 338,000 tons, reinforcing expectations for stronger U.S. export demand as the new marketing year gets underway.

Meanwhile, the latest USDA crop-progress report showed U.S. soybean conditions deteriorating, with the good-to-excellent rating falling two percentage points in the week ended August 30, adding to concerns over supplies ahead of harvest.

Traders now await the USDA’s weekly export-sales report for further signals on overseas demand, particularly from China.