
ING says soybean prices have held up in 2025 and CBOT soybeans outperformed corn and wheat. Global 2025/26 soybean stocks are seen marginally lower with record demand, while US production is forecast down 2.8% on lower planted area.
Outlook depends on Chinese buying and US biofuel policy.
A tighter global balance sheet supports soybean and meal prices, but the outcome hinges on Chinese purchases and biofuel rules that could swing protein costs.
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.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), 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.