Soybean futures closed higher on Thursday, with front-month contracts gaining 1 to 5 ¾ cents, as rumors of large Chinese purchases and a private export sale announcement spurred late-session buying. The USDA reported a private sale of 122,000 metric tons of soybeans to China for the 2026/27 marketing year, while wire reports indicated Chinese buyers purchased 10 cargoes of U.S. soybeans on Thursday. Weekly export sales data showed old-crop soybean sales at a marketing-year low of 32,157 metric tons, but new-crop sales totaled 903,920 metric tons, including 330,000 metric tons sold to China and 497,500 metric tons to unknown buyers. Soymeal futures rose 20 cents to $1.40, while soy oil was mixed. Brazilian soybean exports in July reached 13.4 million metric tons, up 9.33% from last year, with August exports projected at 9.74 million metric tons.
Chinese buying rumors and private export sale to China boost demand for soybeans.
Soymeal futures rose on strength in soybeans, driven by Chinese demand.
Soy oil was mixed despite soybean rally, with no clear directional impact.
