Soybeans Turn Higher, Spurred by Chinese Rumors

Soybeans firmed late on Thursday, with contracts closing near the highs and 6 to 9 cents off the lows to post 1 to 5 ¾ cent gains in the front months.  The cmdtyView national average Cash Bean price was up 3 cents at $11.32. Soymeal futures were 20 cents to $1.40 higher to close Thursday, with Soy Oil 5 points lower to 27 points higher.

A private export sale of 122,000 MT of soybeans was reported to China this morning for 2026/27. Wire reports suggested Chinese buyers purchased 10 cargoes of US soybeans on Thursday. 

USDA released their weekly Export Sales report this morning with a total of 32,157 MT sold for old crop in the week of 7/30. That was a marketing year low as we get into the last month for 2025/26. New crop business was tallied at 903,920 MT. That was a 4-week low for 2026/27 sales. Unknown buyers were the bulk of the purchases, at 497,500 MT, with 330,000 MT sold to China. 

Soybean meal sales were tallied at 248,090 MT in that week, in the middle of the expected range of 200,000 to 500,000 MT, with 101,411 MT for the current MY and 146,679 MT for 2026/27. Bean oil bookings were net sales of 3,926 MT, which was between estimate of net cancellations of 10,000 MT to sales of 10,000 MT. 

Soybean exports out of Brazil in July totaled 13.4 MMT according to trade ministry data, which was a 9.33% increase from last year but down 7.58% from a year ago. August exports are expected to total 9.74 MMT according to ANEC, which would be 1.63 MMT from the same period last year. 

Aug 26 Soybeans  closed at $11.57 1/4, up 5 3/4 cents,

Nearby Cash  was $11.32 1/1, up 3 cents,

Sep 26 Soybeans  closed at $11.60, up 3 1/2 cents,

Nov 26 Soybeans  closed at $11.77 3/4, up 3 cents,

New Crop Cash  was $11.18 1/2, up 3 1/4 cents,

Register a Revolut Business Account