Soybeans Rise Toward 2-Year Highs

2026-05-29 03:37 By Joshua Ferrer 1 min. read

Soybean futures rose to above $11.9 per bushel, moving back toward two-year highs as supportive USDA projections and resilient global demand lifted prices.

The agency’s first outlook for the 2026/27 season pointed to tighter-than-expected US supply conditions, forecast at 120.7 million tons versus market expectations of around 125 million tons.

While global soybean production was projected at a record 441.5 million tons, consumption was seen holding near similar levels, helping ease concerns over a significant supply surplus.

The USDA also projected Chinese soybean imports to rise to 114 million tons in 2026/27 from 112 million in the current season.

Meanwhile, strong US planting progress reinforced expectations for another solid harvest, with 49% of the crop already planted, well ahead of the historical average of 36%.

In South America, Brazil’s soybean harvest neared completion and production is expected to reach around 180 million tons, while exports continued at a record pace.



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