Soybean Prices Rise to New Highs Amid Strong Export Sales
On Thursday, soybeans reached new highs as contracts rose between 13 to 22 cents across most futures. The national average Cash Bean price climbed by 22.5 cents to $12.74½. Soymeal and Soy Oil also saw significant gains of up to $5.50 and 135 points, respectively. The USDA reported private export sale announcements totaling 272,000 MT of soybeans to China for the 2026/27 crop year and an additional 206,500 MT to unknown destinations. Analysts expect weak sales in the upcoming Weekly Export Sales report on Friday. The USDA is set to release updated data later this week with expectations that yields will be revised downward slightly. Old and new crop carryouts are also expected to decline, contributing to upward pressure on soybean prices.
Topics: export_sales futures_prices soybeans