15.10.202603:31:28UTC+00Soybeans Fall to 7-Week Low

Soybean futures declined to about $12.70 per bushel, the lowest level in seven weeks, as accelerating US harvest activity bolstered supply expectations despite renewed Chinese demand. Predominantly dry weather across the Midwest over the past week enabled farmers to speed up fieldwork following earlier rain delays, with 46% of the US soybean crop harvested as of Sunday, slightly above the consensus estimate of 44%. While midweek rains have temporarily slowed operations, forecasters expect a return to drier conditions in the coming days.

On the demand side, Chinese state buyers reportedly purchased 8 to 10 cargoes of US soybeans for shipment from December onward, and the USDA on Wednesday confirmed private sales of 470,000 tonnes to China in its daily export reporting. Traders are now focused on September US crush data from NOPA, where analysts anticipate processing will decline to a one-year low of 203.737 million bushels. End-of-month soyoil stocks are projected at 1.116 billion pounds, which would mark the lowest level since November 2024.