Soybeans Hits 4-week Low

Soybean futures traded around $11.7 per bushel, holding near a four-week low as favorable growing conditions across the US Midwest outweighed renewed Chinese buying. China recently purchased about 1 million metric tons of new-crop US soybeans, including 14–16 cargoes, with the USDA confirming nearly 500,000 tons in export sales. State buyers took advantage of last week's price decline, while purchases were also linked to China's commitment to increase US soybean imports ahead of President Xi Jinping's expected US visit in September. The purchases provided support to prices but were insufficient to outweigh bearish supply expectations. Market attention remains focused on crop development as favorable US weather during the critical pod-filling stage kept yield prospects favorable. Elsewhere, diplomatic progress in the Middle East and the potential reopening of the Strait of Hormuz drove crude oil prices lower, weighing on biofuel demand.

Soybeans decreased to 1166.00 USd/Bu, the lowest since July 2026. Over the past 4 weeks, Soybeans lost 0.87%, and in the last 12 months, it increased 20.95%.

Soybean futures fell below $11.7 per bushel, hitting a four-week low as forecasts of favorable weather across the US Midwest weighed on prices. The expected rainfall near the end of the week is seen as timely as the soybean crop enters the pod-setting phase, when adequate moisture is crucial for yield development. The improved weather outlook weighed on prices after recent heat concerns had supported the market. Earlier this week, the USDA lowered its good-to-excellent rating for the nation's soybean crop to 63% from 66% as persistent heat stressed crops. Elsewhere, Brazil is also expected to export a record 115.4 million metric tons of soybeans in 2026, reflecting ample global supplies. Meanwhile, continued strong US export demand supported the market. China's Sinograin plans to auction 500,000 metric tons of imported soybeans, its largest sale since January, to free up storage ahead of new US arrivals.