
The American Soybean Association said USDA's Sept. 30 reports did not significantly harm soybean prices but offered no support.
USDA raised 2024 soybean production by 7.7 million bushels to 4.374 billion bushels, slightly above the trade range, and soybean stocks came in below expectations.
Soybean prices remain under pressure from long-term supply and demand concerns, which keeps soybean meal costs for feed buyers subdued.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.