Soybean futures in Chicago recovered during the week, according to Safras & Mercado analyst Rafael Silveira. The USDA's November report raised the US soybean crop estimate to 4.574 billion bushels (124.48 million tonnes) on a higher yield of 53.3 bushels per acre, and projected ending stocks at 300 million bushels, below October's forecast and market expectations.
A larger US crop but tighter ending stocks than expected support soybean prices and affect Brazilian export pricing. The report's stock figures are below trade expectations, which is supportive for global soy and meal prices.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.