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Soybeans push to fresh highs as USDA export sales support demand
USDA reported a private export sale of 126,000 metric tons for 2026/27, while the China bid made up most of the week’s export bookings.
Soybeans extended gains into fresh highs on Thursday, with nearby futures up roughly 1.25% to about 5 cents, while some deferred contracts were slightly lower, according to Yahoo Finance. The cash bean national average rose 4.75 cents to $12.04, and soymeal futures were reported lower, while soy oil futures were higher.
The USDA data cited in the report showed a private export sale of 126,000 MT of soybeans to unknown destinations for the 2026/27 marketing year. Separate weekly export sales for the week of 7/16 totaled 56,351 MT, described as the third-lowest booking week for the marketing year at the time.
China was the largest buyer in the weekly figures, purchasing 70,600 MT, including 68,000 MT switched from unknown destinations. For 2026/27, forward sales totaled 1.537 MMT versus estimates of 1.0 MMT to 1.8 MMT, with China taking 1.006 MMT and Mexico receiving 329,700 MT.
The report also cited meal sales of 591,179 MT, exceeding the stated trading range, and bean oil sales of 635 MT. It added a Rabobank estimate that Brazil’s soybean crop in 2026/27 would fall by 4 MMT from the prior year to 178 MMT.
Latest closeSoybeans $1,252.50 ▲1.2%