Soybeans Attempt Rebound

2026-08-07 04:23 By Joshua Ferrer 1 min. read

Soybean futures rose above $11.6 per bushel, attempting to rebound from a five-week low, supported by stronger Chinese demand and higher crude oil prices.

Reports of renewed attacks in the Strait of Hormuz and the lack of clarity over a deal to reopen the critical waterway lifted oil prices.

Agricultural prices often tracked energy markets due to the growing use of crop-based feedstocks in biofuel production.

In addition, the USDA confirmed private sales of 132,000 metric tons of US soybeans to China for delivery in the 2026/27 marketing year beginning September 1, following Beijing's purchase of about 1 million tons of US soybeans last week.

Meanwhile, ongoing hostilities between Russia and Ukraine continued to pose risks to Black Sea grain exports, although expectations of another large Black Sea harvest weighed on prices.

Additional pressure came from expectations of ample global supplies, with brokerage StoneX forecasting the 2026 US soybean harvest at 4.47 billion bushels.



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Soybeans Attempt Rebound
Soybean futures rose above $11.6 per bushel, attempting to rebound from a five-week low, supported by stronger Chinese demand and higher crude oil prices. Reports of renewed attacks in the Strait of Hormuz and the lack of clarity over a deal to reopen the critical waterway lifted oil prices. Agricultural prices often tracked energy markets due to the growing use of crop-based feedstocks in biofuel production. In addition, the USDA confirmed private sales of 132,000 metric tons of US soybeans to China for delivery in the 2026/27 marketing year beginning September 1, following Beijing's purchase of about 1 million tons of US soybeans last week. Meanwhile, ongoing hostilities between Russia and Ukraine continued to pose risks to Black Sea grain exports, although expectations of another large Black Sea harvest weighed on prices. Additional pressure came from expectations of ample global supplies, with brokerage StoneX forecasting the 2026 US soybean harvest at 4.47 billion bushels.
2026-08-07
Soybeans Hold Near 5-Week Low
Soybean futures held around $11.5 per bushel, staying near a five-week low as weaker crude oil prices weighed on the vegetable oil market. Oil prices sharply declined following reports of a deal between Iran and Oman to partially reopen the Strait of Hormuz. Agricultural commodity prices often tracked energy markets due to the growing use of crop-based feedstocks in biofuel production. Additional pressure came from expectations of ample global supplies, with brokerage StoneX forecasting the 2026 US soybean harvest at 4.47 billion bushels. While the USDA recently confirmed a private sale of 132,000 metric tons of US soybeans to China for delivery in the 2026/27 marketing year, the purchase did little to offset the bearish supply outlook. Meanwhile, traders continued to monitor developments in the Black Sea region, where the ongoing Russia-Ukraine war threatened grain export routes, although expectations for another large harvest from the region continued to weigh on prices.
2026-08-05
Soybeans Hold Near 1-Month 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.
2026-08-04