Soybean Futures Rise on China Exports and US Weather

Chicago Board of Trade soybean futures rose on Monday as new export data and deteriorating US crop conditions pushed prices higher. The United States Department of Agriculture confirmed private sales of 488,000 metric tons of soybeans to China and 136,150 tons to unknown destinations for the 2026/27 marketing year.

These official figures follow trader reports that Chinese state trading companies purchased up to one million tons across 14 to 16 cargoes on Friday. The surge in demand coincides with growing concerns over weather in the western Corn Belt.

Insufficient rainfall during the pod-setting phase in the US Midwest may lead to a soybean condition rating of 64% good to excellent. If confirmed, this would mark the lowest rating for this point in the season in three years.