
Chicago soybeans traded near two-week lows as estimates of record U.S. production weighed on the market. The USDA raised its soybean production outlook to a record 114.3 million tonnes from 110.5 million estimated in August, on an all-time high yield of 50.6 bushels per acre.
Wheat slid while corn was nearly unchanged, and commodity funds were net sellers.
A larger expected U.S. soybean crop points to mounting stocks despite strong exports and crushing, which pressures soybean and meal prices. Possible upward revisions to planted acreage could add further supply.
After 793 past bearish report events, Soybeans moved a median -0.2% over 5 sessions (48% higher; middle half -2.0% to +1.6%), and -0.9% 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.