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USDA's May WASDE projected tighter 2026/27 US and global soybean supplies alongside strong demand. Biofuel-driven crush is expected to hit a record.
November futures reached about $12.14 per bushel after the report.
Expected record crush for biofuels reduces soybean and soybean oil stocks, supporting firmer prices. Soybean oil demand from biofuel policy is the main bullish driver.
farmprogress.comBruce BlytheMay 21, 2026After 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.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% 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.
