Soybean Prices Hit New Highs Amid Strong Demand
Soybean contracts rose 13 to 22 cents on Thursday. The national average cash bean price increased by 22.5 cents to reach $12.74.5.
Soybean contracts closed higher on Thursday, with gains ranging from 13 to 22 cents across most delivery months. The national average cash bean price rose by 22.5 cents to settle at $12.74.5. This marks a significant upward move in the broader agricultural commodity sector. Traders responded to fresh data indicating robust export interest.
Related products followed the same trend. Soybean meal futures increased between $2.30 and $5.50. Soybean oil contracts rallied by 102 to 135 points. The September 2026 soybean contract finished the session at $13.18.25, up 23 cents. The November 2026 contract closed at $13.32.25, gaining 22.75 cents.
Export Sales Data Drives Momentum
The USDA reported private export sales of 272,000 metric tons of soybeans to China. These shipments are designated for the 2026/27 marketing year. Another 206,500 metric tons were sold to unknown destinations for the same period. According to GN markets/commodities (en-US), these figures provided immediate support to price levels.
Market participants await the official weekly export sales report on Friday. Analysts polled by Reuters expect net cancellations of up to 500,000 metric tons for the 2025/26 crop. New crop sales for the week ending September 3 are projected between 1 and 2.6 million metric tons. Soybean meal sales are estimated in the range of 150,000 to 950,000 metric tons.
Supply Estimates Face Downward Revisions
The USDA is scheduled to update its crop data on Friday. Traders surveyed by Bloomberg anticipate a reduction in average yield. The expected adjustment is a decrease of 0.3 bushels per acre to 52.4 bushels per acre. Total production is forecast to drop by 27 million bushels to 4.492 billion bushels.
Stockpile levels are also expected to decline. Old crop inventories are projected to fall by 5 million bushels to 320 million bushels. New crop US carryout is seen decreasing by 29 million bushels to 291 million bushels. These supply-side adjustments contribute to the current price strength observed in the market.
