CBOT soybean futures for the benchmark November contract settled at 1238.75, up 13.25 cents/bushel. Soybean futures on the Chicago Board of Trade (CBOT) edged higher, primarily supported by sustained export demand and higher crush margins. On Tuesday, the U.S. Department of Agriculture confirmed private export sales of 132,000 metric tons of U.S. soybeans to unknown destinations for the 2026/27 marketing year. However, some market participants expressed concerns that the U.S.'s newly announced sanctions against trading partners of Iran could potentially weigh on U.S. soybean export prospects in the future, even as oil prices fell for a consecutive session as investors judged the sanctions posed less risk to supply than military escalation. Meanwhile, the U.S. soybean good-to-excellent rating declined further to 60%, below the previous week's reading and market expectations of 61%, and well below the year-ago level of 69%, marking the lowest level for the 34th week since 2023.