Soybean futures rose above $12.6 per bushel to their highest level since December 2023, supported by concerns over crop conditions and strong Chinese demand. U.S. exporters reported several soybean sales to China for the 2026/27 marketing year, including a 333,000-metric-ton purchase announced on August 26. Earlier reported purchases totaled 488,000 tons on August 3, 238,000 tons on August 7 and 244,000 tons on August 12. Extreme heat and heavy rainfall in major Chinese growing regions threaten quality and yields, potentially increasing import reliance. A forecast record U.S. crop remains a headwind, with USDA projecting 4.52 billion bushels of 2026/27 production and trimming its yield estimate to 52.7 bushels per acre.