Soybean futures climbed toward $12.60 per bushel, rebounding from the two-month low hit on October 21, as robust export demand led by China ended an eight-session losing streak. USDA data showed net US soybean export sales of 2.84 million metric tons for the 2026/27 marketing year in the week ended October 15, a sharp increase from 574,900 tons the previous week. China accounted for 2.18 million tons of that total, while export shipments rose 75% week over week to 2.02 million tons, 88% above the four-week average. In a separate notice, the USDA also confirmed a sale of 202,000 tons to China.
Despite the rebound, futures remained on track for a second straight weekly decline, as the advancing US harvest and expectations of a large crop continued to pressure prices. The USDA forecasts US soybean production at 4.56 billion bushels for the 2026/27 marketing year. Still, analysts noted that harvest-related selling pressure appeared to be easing as fieldwork neared completion.
