Soybean futures remained above $13 per bushel, hovering near their highest level since December 2023, as renewed Chinese buying helped underpin demand despite a slowdown in US export activity. The latest USDA weekly report for the week ended August 27 showed a net reduction of 94,200 metric tons in 2025/26 soybean sales, with cancellations outpacing new bookings.
Even so, accumulated exports totaled 40.76 million tons, while outstanding sales were reported at 1.10 million tons. Demand for the new crop also stayed solid, with 2026/27 outstanding sales reaching 16.28 million tons.
China continued to secure US supplies, as private exporters reported sales of 192,000 tons for 2026/27 delivery on September 3, following purchases of 202,000 tons the previous day and 136,000 tons on September 1.
Traders are now focusing on US crop conditions as the harvest approaches. The most recent USDA report showed the share of the soybean crop rated good-to-excellent slipping by two percentage points to 58% for the week ended August 30.
