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Soybeans rise on Wednesday as new China export sales lift demand
USDA cited a private sale of 136,000 metric tons of soybeans to China for 2026/27, while weekly crop-condition ratings fell 1% to 61% good to excellent.
Soybeans were higher in early trading midweek, with futures showing double digit gains and then easing from Tuesday’s intraday peak, settling fractionally higher into the close. The September contract was down 0.25 cent, and open interest rose by 15,411 contracts, pointing to modest new buying, according to Yahoo Finance.
Cash soybeans, tracked by the cmdtyView national average, were up 1 cent to $11.76. Soymeal futures held steady, rising about a dime to $3, while soy oil fell back by 77 to 175 points as the complex traded mixed.
The uptick in soybeans coincided with USDA reporting a private export sale of 136,000 MT of soybeans to China on Tuesday morning for the 2026/27 marketing year. The ProFarmer Crop Tour showed Nebraska pod counts averaging 1,219.62 in a 3 by 3 foot square, 9.54% below last year.
Crop progress data from the USDA’s NASS showed weekly condition ratings down 1% to 61% good to excellent, while the Brugler500 index was unchanged at 361. Brazilian soybean exports were estimated at 10.56 million metric tons, down 0.32 million metric tons from the prior week, and China’s Sinograin reportedly sold 308,000 MT of 360,000 MT offered in an overnight auction, according to Yahoo Finance.
Latest closeSoybeans $1,191.25 ▲2.0%