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CBOT soybeans ended the week near unchanged, with the November contract closing at 1297.25 cents per bushel. The USDA reported 76% of the US soybean crop harvested by October 22, ahead of the five-year average.
Brazil planting was 43.2% complete by October 27.
Harvest pressure in the US and expectations of a record Brazilian crop are bearish, while strong Chinese imports and Argentine meal shortages support prices. Buyers should watch the balance between these forces.
stonex.comStoneX Intelligence BrazilOct 30, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
