Soybean futures hold above $13 amid firm Chinese demand
Soybean futures stayed above $13 per bushel near December 2023 highs, supported by fresh Chinese purchases. USDA data showed 94,200 metric tons net reductions in 2025/26 sales, while accumulated exports hit 40.76 million tons.
Soybean futures held above $13 per bushel, near their highest level since December 2023 as fresh Chinese purchases supported demand despite a slowdown in US export sales.
The latest USDA weekly report showed a net reduction of 94,200 metric tons in 2025/26 soybean sales for the week ended August 27, as cancellations exceeded new bookings.
However, accumulated exports reached 40.76 million tons, while outstanding sales stood at 1.10 million tons.
Demand for the new crop also remained firm, with 2026/27 outstanding sales at 16.28 million tons.
Meanwhile, China continued to book US supplies, with private exporters reporting 192,000 tons sold to the country for 2026/27 delivery on September 3, following purchases of 202,000 tons a day earlier and 136,000 tons on September 1.
Traders now monitored US crop conditions as harvest approaches, with the latest USDA report showing the good-to-excellent soybean rating falling two percentage points to 58% for the week ended August 30.