Soybeans Rebound on Strong Export Demand

Soybean futures rose toward $12.6 per bushel, rebounding from a two-month low reached on October 21, as strong export demand led by China helped end an eight-session losing streak. The USDA reported 2.84 million metric tons of net US soybean export sales for the 2026/27 marketing year in the week ended October 15, sharply above 574,900 tons a week earlier. China accounted for 2.18 million tons, while export shipments climbed 75% week over week to 2.02 million tons, up 88% from the four-week average. A separate USDA announcement also confirmed a sale of 202,000 tons to China. Still, futures remained on track for a second consecutive weekly loss as the advancing US harvest and expectations for a large crop continued to weigh on prices. The USDA projects US soybean production at 4.56 billion bushels for the 2026/27 marketing year. However, analysts suggested harvest-related pressure was easing as fieldwork neared completion.