# Soybeans react in Chicago and Brazil after USDA projects U.S. crop and stocks below expectations

> Soybean futures in Chicago recovered during the week after the USDA's November report projected the 2026/27 U.S. soybean crop at 4.574 billion bushels, up from 4.562 billion previously. The report set ending stocks at 300 million bushels, below October's 315 million and below the market's expectation of 336 million. The USDA also cut global 2026/27 soybean ending stocks to 123.5 million tonnes, under analyst forecasts.

- Date: 2026-11-13 · published 2026-11-13T21:13:46.689Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/98501-soybeans-react-in-chicago-and-brazil-after-usda-projects-u-s-crop-and-stocks
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A tighter U.S. and global soybean balance supports soybean and soymeal prices, raising costs for feed buyers. The Brazilian market is reacting with higher prices and faster business, which signals export competition to come.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-06-30 | [Soybeans rebound after USDA pegs U.S. acres below expectations \| Financial Post](https://feedsoft.ai/events/40972-soybeans-rebound-after-usda-pegs-u-s-acres-below-expectations-financial-post.md) | -5.0% | -3.9% |
| SOY | 2019-09-30 | [Corn and Soybean Stocks Come In Below Trade Expectations \| Red River Farm Network](https://feedsoft.ai/events/57013-corn-and-soybean-stocks-come-in-below-trade-expectations-red-river-farm-network.md) | +3.8% | +4.2% |
| SOY | 2025-05-12 | [Report Snapshot \| Corn, soybean ending stocks well below expectations - Pro Farmer](https://feedsoft.ai/events/24605-report-snapshot-corn-soybean-ending-stocks-well-below-expectations-pro-farmer.md) | +0.6% | +1.1% |
| SOY | 2022-10-05 | [Pro Farmer Crop Estimates Far Below USDA Expectations - AgWeb](https://feedsoft.ai/events/13325-pro-farmer-crop-estimates-far-below-usda-expectations-agweb.md) | -0.5% | +3.8% |
| SOY | 2023-08-25 | [Pro Farmer Crop Estimates Below USDA Expectations - Farm Journal](https://feedsoft.ai/events/13259-pro-farmer-crop-estimates-below-usda-expectations-farm-journal.md) | -0.4% | -5.1% |
| SBM | 2022-06-30 | [Soybeans rebound after USDA pegs U.S. acres below expectations \| Financial Post](https://feedsoft.ai/events/40972-soybeans-rebound-after-usda-pegs-u-s-acres-below-expectations-financial-post.md) | -0.8% | +4.4% |
| SBM | 2019-09-30 | [Corn and Soybean Stocks Come In Below Trade Expectations \| Red River Farm Network](https://feedsoft.ai/events/57013-corn-and-soybean-stocks-come-in-below-trade-expectations-red-river-farm-network.md) | +3.1% | +4.6% |
| SBM | 2022-10-05 | [Pro Farmer Crop Estimates Far Below USDA Expectations - AgWeb](https://feedsoft.ai/events/13325-pro-farmer-crop-estimates-far-below-usda-expectations-agweb.md) | +2.1% | +5.7% |

## Sources

- safras.com.br: https://safras.com.br/soja-reage-em-chicago-e-no-brasil-apos-usda-projetar-safra-e-estoques-americanos-abaixo-do-esperado/

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