# Are November Soybeans Getting Overdone on This Rally?

> November soybean futures have risen $1.28 per bushel over 15 trading days on concerns about lower yields after an extreme May-June drought and a hot, dry August. Some analysts see the national soybean yield falling to 50 bushels per acre or lower, while KC December wheat remains near its May low.

- Date: 2023-08-28 · published 2023-08-28T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/34600-are-november-soybeans-getting-overdone-on-this-rally
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Expectations of a yield cut below 50 bu/acre would tighten an already tight carryout and support soybean and meal prices, though overbought signals suggest a possible pullback.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-12-26 | [Soybeans Rallying with Meal as Specs Covering Shorts on Argentine Dryness](https://feedsoft.ai/events/11397-soybeans-rallying-with-meal-as-specs-covering-shorts-on-argentine-dryness.md) | +2.5% | +8.3% |
| SOY | 2026-02-25 | [Soybeans Rally with the Help of Meal](https://feedsoft.ai/events/5500-soybeans-rally-with-the-help-of-meal.md) | +1.4% | +1.4% |
| SOY | 2026-02-25 | [Soybeans Popping Higher, Following Meal Rally](https://feedsoft.ai/events/5501-soybeans-popping-higher-following-meal-rally.md) | +1.4% | +1.4% |
| SOY | 2025-01-22 | [Soybeans Rallies on Tuesday - IBest Media](https://feedsoft.ai/events/11808-soybeans-rallies-on-tuesday-ibest-media.md) | -2.1% | -3.3% |
| SOY | 2023-11-10 | [November 11th - Soyabean crushing in Argentina - Antares Ship Agents](https://feedsoft.ai/events/13950-november-11th-soyabean-crushing-in-argentina-antares-ship-agents.md) | +2.4% | -1.8% |
| SBM | 2024-12-26 | [Soybeans Rallying with Meal as Specs Covering Shorts on Argentine Dryness](https://feedsoft.ai/events/11397-soybeans-rallying-with-meal-as-specs-covering-shorts-on-argentine-dryness.md) | +4.8% | +6.4% |
| SBM | 2026-02-25 | [Soybeans Rally with the Help of Meal](https://feedsoft.ai/events/5500-soybeans-rally-with-the-help-of-meal.md) | +0.5% | +4.1% |
| SBM | 2026-02-25 | [Soybeans Popping Higher, Following Meal Rally](https://feedsoft.ai/events/5501-soybeans-popping-higher-following-meal-rally.md) | +0.5% | +4.1% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/Ag/blogs/technically-speaking/blog-post/2023/08/28/november-soybeans-getting-overdone-2

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