CBOT soybean futures traded in a narrow range, with the market awaiting the USDA monthly supply-demand report on August 12 (early morning August 13 Beijing time), which will feature the first field-survey-based new-crop U.S. soybean yield estimate. The latest USDA Crop Progress report showed that as of the week ending August 2, the U.S. soybean good-to-excellent rating remained at 63%, unchanged from the previous week but below market expectations of 64% and last year's 69% at the same time, marking the lowest level for this period in three years. On the demand side, positive signals emerged as Chinese buyers continued purchasing U.S. soybeans, with private exporters reporting another sale of 238,000 metric tons to China last Friday. However, old-crop export sales remained weak, with net sales for the 2025/26 marketing year reaching only 32,200 metric tons for the week ending July 30, hitting a seasonal low.