
Chicago soybean prices fell for a second session on November 4, with January 2027 futures near $12.03 per bushel. StoneX raised its Brazil 2026/27 soybean crop estimate to 184.95 million tonnes, and upward revisions to US and Brazilian output added to the outlook for ample supply.
Physical prices rose at Rio Grande and Paranaguá, though not in every producing region.
Larger US and Brazilian crop estimates point to ample supply and weigh on futures, while firmer port premiums and freight keep Brazilian farm-gate values uneven. Feed buyers should expect soybean meal and soy complex prices to stay under pressure unless demand rises.
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.