CBOT soybeans hit contract highs under spillover support

CHICAGO, Aug. 26 (Reuters) - Chicago Board of Trade soybean futures ticked higher on Wednesday on strong demand from China, as well as spillover support from corn and wheat futures that rocketed higher on news that Russia is considering stepping up attacks on Ukraine.

• Fresh export demand has also lent support. The USDA confirmed private sales of 333,000 metric tons of U.S. soybeans to China for delivery in the 2026/27 marketing year that begins on September 1, 2026.
• The U.S. Treasury Department on Monday announced new sanctions on 60 individuals, entities and vessels that the U.S. said were trading partners with Iran, but the list did not include any Chinese financial institutions.
• China has continued purchasing U.S. soybeans at a steady clip.
• China's Sinograin sold 222,782 metric tons of imported soybeans on Wednesday, or 76.6% of the total volume, according to data from consultancy Mysteel.
• The sale was the state stockpiler's fifth soybean auction in less than a month, aimed at freeing up storage capacity for incoming U.S. cargoes.
• New-crop November soybeans SX26 settled 28-1/4 cents higher to $12.66 per bushel.
• CBOT September soymeal SMU26 ended $8.40 higher to $328.70 per short ton, while September soyoil BOU26 settled 0.30 cent lower to 67.22 cents per pound.