Soybean Prices Reach New Highs Amid Strong Export Sales
On July 24, 2026, soybeans extended to fresh highs as contracts rose across most nearby contracts. The national average Cash Bean price increased by nearly five cents to $12.04 per bushel. USDA reported a private export sale of 126,000 metric tons (MT) for the 2026/27 marketing year and weekly sales data showed bookings totaling 56,351 MT in the week ending July 16. China was the largest buyer with purchases amounting to 1.006 million MT under the 2026/27 cycle, while Mexico accounted for an additional 329,700 MT. Meal sales exceeded expectations at nearly 591,200 MT and oil sales were reported at 635 MT. Rabobank estimated a decline in Brazil’s soybean crop to 178 million MT for the upcoming marketing year due to weather-related challenges.
Topics: futures prices soybeans USDA export sales