Soybean Prices Rise to New Highs Amid Strong Export Sales
On Thursday, soybean prices surged across most contracts by 18 to 20 cents. The cmdtyView national average Cash Bean price climbed 19 cents to $12.70 per bushel. Soymeal futures gained $5.30 while Soy Oil rallied 116 points. USDA reported significant private export sales of soybeans, including 272,000 metric tons (MT) to China and another 206,500 MT to unknown destinations for the 2026/27 crop year. Traders anticipate Friday's Weekly Export Sales data release. Analysts surveyed by Bloomberg expect USDA to revise soybean yields downward slightly while production is forecasted to drop significantly. Argentina’s Rosario Grains Exchange also revised its soybean estimate lower, at 47.8 million metric tons for the upcoming crop year. The market remains sensitive as September futures expire on Monday with no deliveries reported so far this week.
Topics: export_sales futures_prices soybeans