# USDA projects lower supply, and soybeans rise in Chicago

> The USDA’s November supply-and-demand report lowered its 2026/27 global soybean production estimate from 442.7 million to 442.5 million tonnes and projected ending stocks at 123.5 million tonnes, down from 124.28 million. U.S. production was forecast at 124.48 million tonnes, but ending stocks at 8.17 million tonnes came in below market expectations; Chicago soybean futures rose more than 3%, with the January contract up 3.35% to $12.28 per bushel.

- Date: 2026-11-11 · published 2026-11-11T12:21:08.271Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/93480-usda-projects-lower-supply-and-soybeans-rise-in-chicago
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Lower-than-expected U.S. ending stocks and reduced global stocks tighten the projected supply outlook, supporting soybean prices and potentially lifting feed costs for soybean meal users.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-08-11 | [USDA Lowers Corn and Soybean Yields and Production](https://feedsoft.ai/events/12250-usda-lowers-corn-and-soybean-yields-and-production.md) | -5.3% | -4.4% |
| SOY | 2022-09-12 | [USDA Lowers Corn and Soybean Yields](https://feedsoft.ai/events/39551-usda-lowers-corn-and-soybean-yields.md) | -2.7% | -8.2% |
| SOY | 2019-09-12 | [USDA Lowers Corn, Soybean Production and Yield - ProAg](https://feedsoft.ai/events/9896-usda-lowers-corn-soybean-production-and-yield-proag.md) | +4.1% | +8.2% |
| SOY | 2020-09-11 | [USDA Lowers Corn and Soybean Forecasts \| AgWired](https://feedsoft.ai/events/50974-usda-lowers-corn-and-soybean-forecasts-agwired.md) | +4.4% | +6.6% |
| SOY | 2020-11-10 | [USDA reduces 2020 corn, soybean projections](https://feedsoft.ai/events/12427-usda-reduces-2020-corn-soybean-projections.md) | +4.4% | +3.7% |
| SBM | 2023-08-11 | [USDA Lowers Corn and Soybean Yields and Production](https://feedsoft.ai/events/12250-usda-lowers-corn-and-soybean-yields-and-production.md) | -5.6% | -6.0% |
| SBM | 2022-09-12 | [USDA Lowers Corn and Soybean Yields](https://feedsoft.ai/events/39551-usda-lowers-corn-and-soybean-yields.md) | -1.5% | -6.1% |
| SBM | 2022-01-19 | [Lower US Soybean Meal Export Projection](https://feedsoft.ai/events/43208-lower-us-soybean-meal-export-projection.md) | +0.2% | +10.8% |

## Sources

- valor.globo.com: https://valor.globo.com/agronegocios/noticia/2026/11/11/valor-usda-preve-oferta-menor-e-soja-tem-alta-em-chicago.ghtml

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