
USDA's August WASDE cut the 2025/26 US soybean crop to 4.3 billion bushels, down 43 million on lower harvested area, while yield rose to 53.6 bushels per acre. Ending stocks were cut to 290 million bushels and exports were reduced by 40 million.
Soybean meal was forecast at $280/short ton, down $10, and global oilseed output was trimmed.
A tighter US soybean balance sheet supports soybean complex prices, while the lower meal price forecast signals weak meal demand relative to supply.
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 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.