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Soybeans hold midday gains as China export sale supports prices
USDA reported a private sale of 136,000 MT of soybeans to China for 2026/27, helping keep most contracts up 4 to 6 cents.
Soybeans were trading higher in midday trading, with 4 to 6 cent gains across most contracts, while the cmdtyView national average Cash Bean price rose 5.5 cents to $11.81, according to Yahoo Finance.
Soymeal futures were lower in the front months, down 60 cents at midday, as soy oil fell back by 125 to 150 points, the report said.
USDA also reported a private export sale of 136,000 MT of soybeans to China for 2026/27 on Tuesday morning. Weekly Crop Progress from NASS showed 96% of the US soybean crop had bloomed by 8/16 and 85% had set pods, with crop condition ratings at 61% good to excellent.
In crop tour updates, South Dakota pod counts averaged 945.98 in a 3-foot by 3-foot square, down 20.4% from last year and 12.1% versus the three-year average, while Ohio pod counts were 1,197.25 bpa, down 6.99% year over year and 4.74% from the three-year average. Results for Indiana and Nebraska were scheduled for later Tuesday evening.
Latest closeSoybeans $1,191.25 ▲2.0%