
USDA's November WASDE report on November 10, 2026 cut projected U.S. soybean ending stocks to a four-year low of 300 million bushels, below expectations of up to 332 million. CBOT January soybeans rose 39.75 cents to $12.28 a bushel, and Paranaguá port prices in Brazil rebounded above R$160 per saca by November 11.
A tighter U.S. stock outlook pulls global demand toward Brazilian supply, which lifts soybean and meal prices for feed buyers. Brazilian farmers who had been holding grain may sell into the rally, which could cap gains in the near term.
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.