# Soybean Weekly Report

> Chicago soybean futures closed the week of November 22 at 983.5 cents/bu, down 1.5%, as good South American crop progress weighed on prices. Speculative funds covered shorts, and StoneX raised its Brazil 2024/25 production estimate to a record.

- Date: 2024-11-25 · published 2024-11-25T12:00:00.000Z
- Category: weather · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/11136-soybean-weekly-report
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Record Brazilian output and favorable South American weather add export competition, keeping soybean and meal prices under pressure. Doubts over US biofuel incentives also weigh on soyoil demand for crushing.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-04-17 | [AgriCensus Report](https://feedsoft.ai/events/59693-agricensus-report.md) | -3.7% | -5.9% |
| SOY | 2020-12-04 | [New Clues for Soybean Futures](https://feedsoft.ai/events/49686-new-clues-for-soybean-futures.md) | -1.3% | +12.7% |
| SOY | 2022-09-28 | [Brazil readies for historic soybean crop](https://feedsoft.ai/events/13699-brazil-readies-for-historic-soybean-crop.md) | -1.7% | -1.8% |
| SOY | 2023-05-15 | [Summer Soybean Meal Prices Resist New Lows](https://feedsoft.ai/events/36011-summer-soybean-meal-prices-resist-new-lows.md) | -8.9% | -4.3% |
| SOY | 2021-01-19 | [Soybeans fall on South American rainfall](https://feedsoft.ai/events/8231-soybeans-fall-on-south-american-rainfall.md) | -5.2% | -2.3% |
| SBM | 2019-04-17 | [AgriCensus Report](https://feedsoft.ai/events/59693-agricensus-report.md) | -2.0% | -2.2% |
| SBM | 2022-09-28 | [Brazil readies for historic soybean crop](https://feedsoft.ai/events/13699-brazil-readies-for-historic-soybean-crop.md) | -4.6% | -0.8% |
| SBM | 2024-10-25 | [Soybean market turns on Brazil](https://feedsoft.ai/events/13540-soybean-market-turns-on-brazil.md) | -3.3% | -7.3% |

## Sources

- stonex.com: https://www.stonex.com/en-us/insights/soybean-weekly-report-1537767/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.