# Soybean Signal: Seller's Market | Iowa Soybean Association

> U.S. soybean futures reached a session high of $10.89 per bushel on the CBOT, the highest since July 2016, supported by strong Chinese demand and tighter U.S. supplies after derecho and drought. USDA's October WASDE cut 2020/21 ending stocks to 290 million bushels from 460 million in September, and exports to China are running at a record pace.

- Date: 2020-10-29 · published 2020-10-29T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/50663-soybean-signal-seller-s-market-iowa-soybean-association
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Tighter U.S. ending stocks and record export sales support soybean prices and firm the cash market for farmers marketing the 2020 crop, which raises feed costs for soybean meal users.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Sources

- iasoybeans.com: https://www.iasoybeans.com/newsroom/article/soybean-signal-sellers-market

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