# StoneX raises US soybean production forecast to 128.6 mln tons amid growing demand for soybean oil

> StoneX raised its 2026/27 US soybean yield forecast by 0.9 bushels per acre to 55 and its production estimate by 77 million bushels to 4.725 billion bushels, or about 128.6 million tonnes. USDA NASS reported that 88% of the soybean area in 18 major producing states had been harvested by November 1, four percentage points ahead of the five-year average. The report also noted rising soybean oil use in biodiesel and renewable diesel production, supported by more favorable 45Z incentives than those available for canola oil.

- Date: 2026-11-05 · published 2026-11-06T03:06:13.414Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/83201-stonex-raises-us-soybean-production-forecast-to-128-6-mln-tons-amid-growing
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

The higher crop estimate implies greater US soybean availability and may pressure soybean prices, while stronger biofuel demand supports soybean oil and can underpin crush demand.

## Read by commodity

- SBO: bullish ▲
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-08-10 | [Soybeans, Grains Plunge After USDA Raises Production Forecasts](https://feedsoft.ai/events/63478-soybeans-grains-plunge-after-usda-raises-production-forecasts.md) | -0.3% | -6.3% |
| SOY | 2024-08-13 | [USDA forecasts record US soybean production and higher stocks, above market estimates - Fastmarkets](https://feedsoft.ai/events/10464-usda-forecasts-record-us-soybean-production-and-higher-stocks-above-market.md) | -5.5% | -3.4% |
| SOY | 2017-04-11 | [Global Soybean Production, Ending Stocks Raised](https://feedsoft.ai/events/71445-global-soybean-production-ending-stocks-raised.md) | +0.5% | +2.5% |
| SOY | 2021-11-24 | [USDA cuts U.S. ag export forecast amid weaker soybean demand](https://feedsoft.ai/events/14976-usda-cuts-u-s-ag-export-forecast-amid-weaker-soybean-demand.md) | -3.5% | +4.4% |
| SOY | 2017-08-10 | [USDA Forecasts Record-High Soybean Production in 2017](https://feedsoft.ai/events/69299-usda-forecasts-record-high-soybean-production-in-2017.md) | -4.3% | +0.0% |
| SBO | 2026-02-19 | [Soybean Oil Used for Biofuel Production Expected to Soar](https://feedsoft.ai/events/15047-soybean-oil-used-for-biofuel-production-expected-to-soar.md) | +2.7% | +1.3% |
| SBO | 2026-05-14 | [New Crop Soybeans Top $12 as USDA Raises Demand Outlook - American Soybean Association](https://feedsoft.ai/events/19297-new-crop-soybeans-top-12-as-usda-raises-demand-outlook-american-soybean.md) | +0.5% | -2.1% |
| SBO | 2024-01-12 | [USDA boosts forecast for 2023-’24 soybean oil use in biofuel production \| Biodiesel Magazine](https://feedsoft.ai/events/15246-usda-boosts-forecast-for-2023-24-soybean-oil-use-in-biofuel-production.md) | -0.1% | -4.0% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/stonex-raises-us-soybean-production-forecast-to-128-6-mln-tons-amid-growing-demand-for-soybean-oil/

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