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January soybeans closed at the low end of the day's range, sitting on 200-day moving average support near $12.02. Crude oil fell sharply, pulling soybean oil to a seven-month low, and a 167K-ton flash sale of beans to Spain was reported.
Funds hold large soybean and meal long positions ahead of the USDA report.
Heavy fund long positions raise the risk of liquidation if USDA ending stocks come in high, which would pressure bean and meal prices. The EU demand for non-Brazilian beans due to deforestation rules supports US export flows.
barchart.comSean LuskNov 4, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
