Soybean futures rise on heat forecasts and China demand - CBOT
Midwest crop stress and renewed Chinese buying lift prices
8 July 2026
1 minute read
By: Chicago Board of Trade (CBOT) soybean futures closed higher on Tuesday on outlooks for crop-stressing heat in the Midwest later this month, signs of renewed Chinese demand for US soy and an upturn in crude oil prices, Reuters reported, citing traders.
CBOT August soybeans settled up 9-3/4 cents, or 0.8%, at $11.93-3/4 per bushel and new-crop November soybeans SX26 ended up 5-1/2 cents, or 0.5%, at $11.97-3/4 a bushel.
The thinly traded July SN26 contract, which expires next week, settled up 14-1/2 cents at $11.96-3/4 a bushel after reaching $12.00-1/4.
August soymeal ended up $3.30, or 1.1%, at $316.20 per short ton and August soy oil rose 0.83 cents, or 1.2%, to close at 68.59 cents per pound.
Analysts noted market talk that China was seeking offers for US soybeans and corn. China's state-owned trader COFCO bought at least five cargoes of US soybeans on Monday, two US traders with knowledge of the deals told Reuters.
Under its daily export reporting rules, the US Department of Agriculture confirmed private sales of 105,000 metric tons of US old-crop soymeal to Colombia.
Crude oil futures rose following reports of attacks on vessels near the Strait of Hormuz, lifting prices for soybeans and corn which are widely used for biofuel.
Updated midday weather models pointed to potentially stressful heat in the US crop belt through the middle of July.
The USDA late Monday rated 64% of the US soybean crop in good to excellent condition, down from 65% the previous week.
Managed commodity funds appeared to return as buyers of CBOT grains, traders said, after slashing their net long position in CBOT soybean futures during June.
