Soybeans near three-week high on China demand, crop worries
SOYB•China sales and broader grain market support
Soybeans drew additional support after the USDA confirmed private sales of 136,000 metric tons of U.S. soybeans to China for delivery in the 2026/27 marketing year.
Last week, traders told Reuters that China had booked over 7 million tons of U.S. soybeans.
Meanwhile, National Oilseed Processors Association data showed NOPA members processed 216.647 million bushels of soybeans last month, up 1.1% from June and up 10.7% from July 2025.
Wheat Wv1 rose 0.11% to $6.82 a bushel, buoyed by gains in soybeans and corn.
Markets are also monitoring disruptions to Black Sea exports after continued Russian and Ukrainian attacks on shipping, including near Russia's Novorossiysk port.
Commodity funds were net sellers of soyoil, corn and wheat, traders said on Tuesday. CBOT/FUNDS
Soybeans rise on China buying and crop concerns
Chicago soybeans rose for a fourth straight session on Wednesday, hovering near a three-week high as concerns over U.S. Midwest crop prospects and fresh Chinese buying supported prices.
The most-active soybean contract Sv1 on the Chicago Board of Trade (CBOT) rose 0.51% to $12.23 a bushel by 0254 GMT. Corn Cv1 gained 0.31% to $4.89-1/2 a bushel.
Crop tour and USDA reports weigh on supply outlook
Traders are tracking the Pro Farmer field tour after the U.S. Department of Agriculture cut its corn and soybean yield forecasts last week.
Scouts reported weaker crop prospects in Indiana and Nebraska, with corn yield potential below last year's levels and soybean pod counts also trailing benchmarks.
