Soybeans eased to $12.90 a bushel, their lowest level in more than a week, as traders turned their attention to Friday’s US Department of Agriculture supply-and-demand forecasts for an indication of weather damage to Midwest crops. The USDA’s latest assessment showed that 58% of soybean crops were rated good to excellent, unchanged from the previous week and above expectations for a one-point decline. Despite the weaker prices, Chinese demand for US soybeans provided underlying support. On Wednesday, the USDA reported export sales of 340,000 metric tons of soybeans to China for delivery in 2026/27, alongside another 100,000 tons sold to unknown destinations. Rising oil prices have also supported soybeans, which are widely used in biofuel production, with Brent crude recently surpassing $100 a barrel. Soybeans reached $13.10 a bushel on September 1, their highest level since December 2023, amid concerns over US yields and Black Sea supply disruptions.