Soybean Futures Push Higher at Midday on Broad Product Strength and Export Demand

Soybean futures are posting solid gains in Friday’s midday trade, with contracts rising 17 to 20 cents across the board. The cmdtyView national average Cash Bean price is up 19 cents at $12.51, reflecting strong underlying support. Soymeal futures are leading the product complex higher, up $8 to $8.20 on the day, while Soy Oil has bounced back impressively, gaining 230 to 275 points.

USDA announced a private export sale of 182,000 metric tons of soybeans to China this morning for the 2026/27 marketing year, with an additional 226,000 MT reported during the standard reporting period to unknown destinations. The agency also confirmed another 200,000 MT of soybean meal had been sold, split evenly between Germany and the Netherlands at 100,000 MT each.

Following reports that the EPA was preparing to approve additional small refinery exemptions this week, Reuters reported that the White House is considering increasing biofuel quotas for 2027 by 500 million gallons. The proposed adjustment would help offset the higher-than-expected volume of exemptions. No formal announcement has been made by the administration.

The weekly Export Sales report showed old crop soybean sales totaling 41.95 million metric tons, combining both shipped and unshipped volumes, down 17% from the same period a year ago. This figure represents 101% of the USDA’s current export projection and is broadly in line with last year’s pace. Accumulated 2026/27 sales have reached 14.334 MMT, nearly double the level recorded at the same point last year and the fourth-largest total for the current week over the past decade.

Sinograin, a Chinese state-owned grain stockpiler, is scheduled to auction just 68,000 MT of soybeans on September 2, a notably modest volume.

Key price levels at midday:

Sep 26 Soybeans are at $12.74, up 17 1/2 cents.

Nearby Cash is at $12.51, up 19 cents.

Nov 26 Soybeans are at $12.86 3/4, up 18 3/4 cents.

Jan 27 Soybeans are at $13.01 1/2, up 18 1/2 cents.

New Crop Cash is at $12.30 3/4, up 19 1/4 cents.

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