On Monday, CBOT soybean futures were closed for the Labor Day holiday, but the main contract had already broken above the 1,310 cents/bushel level, driven by three bullish factors in tandem: sustained Chinese purchases of new-crop U.S. soybeans keeping export demand robust; high temperatures and drought in the U.S. Midwest raising yield concerns, with soybean condition ratings declining for three consecutive weeks; and strong domestic crushing margins in the U.S., with biofuel policies providing long-term support. Meanwhile, Brazil's 2026/27 soybean planting has begun sporadically, with seeding progress at 0.05% as of last Thursday, slightly above the 0.02% seen at the same time last year. Market focus has now shifted to the upcoming September USDA supply and demand report, with particular attention on adjustments to new-crop U.S. soybean yield estimates.