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The USDA raised U.S. soybean production and yield estimates to records, but by less than expected, and lowered ending stocks to 300 million bushels from a market expectation of 331 million. Strong exports drove the stock reduction, and CBOT soybeans rose 39.75 cents to 1,226.75 cents per bushel, while soybean meal futures and spot prices also increased sharply.
The lower-than-expected ending-stocks estimate signals tighter U.S. availability despite record production, supporting soybean and meal prices. The unexpectedly strong export demand adds to that price support.
mysteel.netNov 11, 2026After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
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.
