Soybean Prices Soar Above $13 Amid China's Record Purchase

The price of soybeans has risen above $13 per bushel in the latest market update. According to Cassidy Walter, commodity markets and agribusiness reporter for Successful Farming, November soybeans were up 24¾¢ at $13.12¾ per bushel as of 9:30 a.m. CT.

The USDA announced that China is buying 136,000 metric tons of soybeans for the 2026/2027 marketing year, which has contributed to the increase in price. Crop ratings are also supportive, with soybean conditions continuing to decline and both corn and soybeans below the five-year average.

Cole Raisbeck, commodities broker with Kluis Commodity Advisors, said that grain markets were able to hold on and avoid major pullback from end-of-month profit-taking due to these factors. December CBOT wheat was up 13¾¢ at $7.87¾ per bushel, while December Kansas City wheat was up 14½¢ at $8.52½ per bushel.