Soybean futures pushed further into fresh two-year highs at midday, with gains of 5 to 8 cents. The cmdtyView national average cash bean price rose 5 cents to $12.05 1/2, while soymeal futures were $1.30 to $2.00 higher and soy oil futures added 2 to 7 points. USDA reported a private export sale of 126,000 metric tons of soybeans to unknown destinations for the 2026/27 marketing year. Weekly export sales data showed current-year bookings of 56,351 metric tons, within analyst estimates, and forward sales for 2026/27 at 1.537 million metric tons, the second largest for that marketing year and nearly triple the same week last year. Rabobank estimated the Brazilian soybean crop for 2026/27 at 178 million metric tons, down 4 million metric tons from the prior year.
Strong export sales and record forward bookings indicate robust demand for soybeans.
Soymeal futures rose alongside soybeans, driven by the same strong export demand for soybeans.
Soy oil futures rose alongside soybeans, driven by the same strong export demand for soybeans.