Soybean Futures Rise on Dry Weather Outlook and Strong Export Demand

Soybean futures jumped 10‑11 cents per bushel on Friday as the NOAA 7‑day forecast showed less than half an inch of rain for most of the U.S. Midwest, with only Missouri expecting more than an inch. The dry outlook for the Dakotas, Iowa, Minnesota and Wisconsin, combined with USDA data showing old‑crop export sales at 100% of the full‑year target and new‑crop sales 135.5% higher than a year earlier, lifted the soybean complex ahead of the weekend.

In the Latin American grain market, soybeans edged higher (closing around $26.28), corn stayed flat and wheat slipped, driven by Brazil and Argentina’s continued role as the world’s main soy, corn and wheat exporters and by China’s demand as the largest soybean importer. Currency moves in the Brazilian real and Argentine peso also affected local farm revenues and global competitiveness.