Soybean prices reached fresh two-year highs on August 26, with gains of 5 to 8 cents, pushing the cmdtyView national average cash bean price to $12.05 1/2 per bushel. Soymeal futures increased by $1.30 to $2.00, while soy oil futures rose by 2 to 7 points. Additionally, the USDA reported a private export sale of 126,000 metric tons of soybeans for the 2026/27 marketing year.
Weekly export sales data from the USDA revealed bookings of 56,351 metric tons for the week of July 16, aligning with analysts’ forecasts of net cancellations between 200,000 metric tons and sales of 400,000 metric tons. Forward sales for the 2026/27 marketing year reached 1.537 million metric tons, nearly triple the same week last year. Rabobank forecasts a decline in Brazil’s soybean crop by 4 million metric tons to 178 million metric tons for the 2026/27 year.
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