09.09.202615:55:02UTC+00Soybeans Fall to Over 1-Week Low

Soybean futures slipped to $12.90 per bushel, the lowest level in more than a week, as traders focused on Friday’s US Department of Agriculture (USDA) supply-and-demand report for clues on weather-related damage to Midwest crops. The USDA’s latest weekly crop progress report showed 58% of the US soybean crop rated good to excellent, unchanged from the prior week and better than expectations for a one-percentage-point decline.

Despite softer prices, demand from China helped underpin the market. On Wednesday, the USDA confirmed export sales of 340,000 metric tons of US soybeans to China for delivery in the 2026/27 marketing year, along with an additional 100,000 metric tons sold to unknown destinations.

Higher energy prices also lent support, as soybeans are a key feedstock for biofuel production. Brent crude recently climbed above $100 a barrel, bolstering the oilseed complex. Soybean futures had reached $13.10 per bushel on September 1, their highest level since December 2023, amid concerns over US yield prospects and disruptions to Black Sea supplies.