
Soybean futures rose after the November WASDE report cut US and world ending stocks for 2026/27 by more than expected, triggering short covering across the complex. Soybean oil strength and wider vegetable oil markets amplified the move, while falling crude oil limited gains.
Higher US domestic crush and export use relative to expectations tightens the balance sheet, supporting soybean and soyoil prices. Weaker crude oil and macro uncertainty cap the upside.
After 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 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% 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.