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Chicago soybean futures rallied sharply after the USDA supply and demand report on November 10, reaching US$12.29 per bushel on November 11, up from US$11.81 a week earlier. The contract eased to US$12.27 at Thursday's close (November 12), and the USDA kept its Brazilian soybean production estimate at 186 million tonnes.
The rally was driven by the USDA report and a deterioration in US crop conditions, though analysts say the reaction exceeded the report's changes. Attention is shifting to Chinese demand and South American planting and weather, which will determine whether soybean prices hold their gains.
agrolink.com.brSeane LennonNov 12, 2026Not 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.
