Market Overview

On Thursday, August 6, 2026, U.S. soybean futures moved upward, with front‑month contracts finishing close to their recent highs and remaining between 6 and 9 cents above the low of the day. The first‑month contracts posted gains ranging from 1 cent to 5 ¾ cents. The national average cash price for soybeans, as reported by cmdtyView, increased by 3 cents to $11.32 per bushel.

Soybean meal futures also climbed, closing 20 cents higher at $1.40 per pound, while soybean oil futures were 5 points lower at 27 points higher than the previous close.

Export Activity and Chinese Rumors

A private export transaction involving 122,000 metric tonnes of soybeans destined for China was announced early Thursday for the 2026/27 crop. Wire reports indicated that Chinese buyers had purchased 10 cargoes of U.S. soybeans on the same day, fueling speculation that a large volume of beans could be entering the Chinese market.

USDA Weekly Export Sales Report

The United States Department of Agriculture (USDA) released its weekly export sales data on the morning of August 6. For the week ending July 30, the agency reported 32,157 MT of the old crop sold, marking a marketing‑year low as the 2025/26 crop approaches its final month.

New‑crop sales for the same period totaled 903,920 MT, the lowest figure recorded over a four‑week span for the 2026/27 crop. The bulk of these sales went to unknown buyers, amounting to 497,500 MT, with 330,000 MT sold to China.

Soybean meal sales for the week were 248,090 MT, falling within the expected range of 200,000 to 500,000 MT. Sales were split between the current marketing year (101,411 MT) and the 2026/27 crop (146,679 MT). Net bookings for soybean oil were 3,926 MT, falling between analysts’ estimates of net cancellations (10,000 MT) and net sales (10,000 MT).

Brazil Export Data

According to Brazil’s trade ministry, soybean exports in July totaled 13.4 million metric tonnes (MMT), representing a 9.33 % increase over the previous year but a 7.58 % decline compared to the same period a year earlier. The Brazilian Agricultural Export Council (ANEC) projects August exports to reach 9.74 MMT, which would be 1.63 MMT lower than the previous year’s August volume.

Price Summary

  • August 26 Soybeans: Closed at $11.57 ¼, up 5 ¾ cents.
  • Nearby Cash: $11.32 1/1, up 3 cents.
  • September 26 Soybeans: Closed at $11.60, up 3 ½ cents.
  • November 26 Soybeans: Closed at $11.77 ¾, up 3 cents.
  • New Crop Cash: $11.18 ½, up 3 ¼ cents.

These movements reflect the market’s reaction to both domestic sales data and international demand signals, particularly from China.

Conclusion

The combination of a significant private export to China, a notable sale of 122,000 MT for the 2026/27 crop, and the latest USDA export figures has kept soybean prices near recent highs. Traders remain attentive to further developments in Chinese demand and U.S. export trends as the crop year concludes.