# November Soybean Chart Looks Terrible, But Support Lies Just Below

> November soybean futures have fallen more than $1.25 per bushel since August 28, despite early harvest reports suggesting yields below USDA's 50.1 bushel-per-acre estimate. Analysts flag $12.75 to $12.80 as key chart support. Expectations for a record Brazilian crop and a rebound in Argentina are adding to the pressure.

- Date: 2023-09-25 · published 2023-09-25T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/34135-november-soybean-chart-looks-terrible-but-support-lies-just-below
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Expected South American supply gains of around 30 million metric tons outweigh tight US ending stocks, so prices remain under pressure unless support breaks or US yields disappoint.

## Read by commodity

- SOY: bearish ▼

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/technically-speaking/blog-post/2023/09/25/november-soybean-chart-looks-support

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.