CBOT soybeans ends higher ahead of USDA supply and demand report

Chicago Board of Trade soybean futures turned higher on Tuesday after a choppy session as traders looked ahead to Friday's U.S. Department of Agriculture supply and demand report.

• Soybeans have been supported by Chinese purchases of U.S. soybeans and concerns over hot, dry weather in key U.S. growing areas.
• China's soybean imports totalled 74.11 million metric tons in the January-August period, up 1.1% from 73.33 million tons a year earlier, data from the country's General Administration of Customs showed on Tuesday.
• Imports by the world's largest soybean buyer fell 1.1% in August from a year earlier to 12.14 million tons, the data showed.
• The U.S. Department of Agriculture said last week exporters sold 192,000 tons of soybeans to China for delivery in the 2026/27 marketing year.
• Brazilian farmers have started planting the country's 2026/27 soybean crop, with sowing underway in parts of Parana state after the end of the sanitary fallow period and the arrival of favorable rains, consultancy AgRural said on Monday.

China's private soybean processors face a costly fourth-quarter supply squeeze as inventories tighten in top exporter Brazil and tariffs keep U.S. cargoes largely out of reach.

The world's biggest oilseed processing industry is already under pressure from negative margins and weakening feed demand as China's pig herd shrinks. Processors are hoping President Xi Jinping's visit to Washington this month leads Beijing to ease a 10% import tariff on U.S. agricultural goods.

New-crop November soybeans SX26 settled 6-1/2 cents higher to $13.16-1/4 per bushel.

CBOT October soymeal SMV26 ended $4.90 lower at $343.30 per short ton, while December soyoil BOZ26 settled 1.43 cents higher to 70.70 cents per pound.