# Mysteel soybean and relatives market daily: Crude oil weakness + harvest realization: soybean meal's high inventories suppress the basis

> CBOT soybean futures fell for a third straight week in nearby contracts while deferred months firmed. Harvest of a record US crop is advancing quickly, farmers keep selling, and a sharp drop in the Brazilian real has pushed Brazilian farmers to accelerate sales, with fund liquidation and a stronger dollar also weighing. Strong export demand and bargain buying limited losses, and Argentina's planting has begun with soil moisture ideal in most areas.

- Date: 2026-11-03 · published 2026-11-03T06:05:30.525Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/77025-mysteel-soybean-and-relatives-market-daily-crude-oil-weakness-harvest
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Heavy harvest selling and a weaker real add supply pressure on soybeans and soybean meal, keeping the meal basis weak for feed buyers. Crude oil weakness also reduces support for soybean oil.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼
- USDBRL: bullish ▲

## Sources

- mysteel.net: https://www.mysteel.net/analysis/5147187-mysteel-soybean-and-relatives-market-daily-crude-oil-weakness-harvest-realization-soybean-meals-high-inventories-suppress-the-basis

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