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CBOT soybean futures fell to an 11-week low on Wednesday as crude oil dropped about 9% after Republicans lost control of Congress in the midterms. January soybeans closed down 11.75 cents at $12.0225 a bushel, while December soybean oil and meal also weakened.
Traders said lower crude pressured soybean prices through the biofuel link.
Lower crude weakens the biofuel margin for soybean oil, which pulls down soybean crush economics and soybean prices. Soymeal, a feed ingredient, also softened, so feed buyers may see slightly cheaper protein near term if the energy slide holds.
emtiadefteri.comSadi KaymazNov 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.
