Soybean Futures Hit Two-Month Low

2026-10-26 11:47 By Joana Ferreira 1 min. read

Soybean futures fell to around $12.40 per bushel, their lowest level since late August, as expectations for record harvests in the US and South America weighed on prices.

The USDA’s October WASDE report raised its forecast for the 2026/27 US soybean crop by 1% from the previous estimate to a record 4.56 billion bushels, up 7% from the previous year.

The projected yield was also revised higher by 0.6 bushels to a record 53.1 bushels per acre.

In South America, favorable weather has supported planting prospects despite concerns over a potential Super El Niño.

Brazil’s CONAB forecasts soybean production to rise 0.7% year over year to 181.6 million tonnes in 2026/27, while the Buenos Aires Grain Exchange expects Argentina’s planted area to increase 1% to 17 million hectares.

However, stronger US exports and resilient Chinese feed demand offered some support to prices, although Brazil’s growing dominance in China’s soybean import market continued to weigh on US export competitiveness.



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Soybeans Hold Near 9-Week Low
Soybean futures held around $12.30 per bushel, trading near a nine-week low as the rapidly advancing US harvest partly offset strong export demand. According to the USDA’s weekly report, the soybean harvest reached 79% completion as of October 25, slightly ahead of the five-year average of 77%. On the demand side, US export inspections climbed to 2.48 million metric tons for the week ended October 22, up from 2.07 million the previous week and well above the 1.16 million tons recorded a year earlier. Supply concerns also offered some relief, as a study found that Brazil, the world’s top soybean exporter, could see output fall to 163.6 million metric tons under a strong El Niño scenario, compared with 181.2 million tons under neutral weather conditions. However, Brazil’s competitive position remained a concern following President Luiz Inácio Lula da Silva’s reelection, which weakened the real and could make Brazilian soybeans cheaper for overseas buyers relative to US supplies.
2026-10-28
Soybean Futures Hit Two-Month Low
Soybean futures fell to around $12.40 per bushel, their lowest level since late August, as expectations for record harvests in the US and South America weighed on prices. The USDA’s October WASDE report raised its forecast for the 2026/27 US soybean crop by 1% from the previous estimate to a record 4.56 billion bushels, up 7% from the previous year. The projected yield was also revised higher by 0.6 bushels to a record 53.1 bushels per acre. In South America, favorable weather has supported planting prospects despite concerns over a potential Super El Niño. Brazil’s CONAB forecasts soybean production to rise 0.7% year over year to 181.6 million tonnes in 2026/27, while the Buenos Aires Grain Exchange expects Argentina’s planted area to increase 1% to 17 million hectares. However, stronger US exports and resilient Chinese feed demand offered some support to prices, although Brazil’s growing dominance in China’s soybean import market continued to weigh on US export competitiveness.
2026-10-26
Soybeans Rebound on Strong Export Demand
Soybean futures rose toward $12.6 per bushel, rebounding from a two-month low reached on October 21, as strong export demand led by China helped end an eight-session losing streak. The USDA reported 2.84 million metric tons of net US soybean export sales for the 2026/27 marketing year in the week ended October 15, sharply above 574,900 tons a week earlier. China accounted for 2.18 million tons, while export shipments climbed 75% week over week to 2.02 million tons, up 88% from the four-week average. A separate USDA announcement also confirmed a sale of 202,000 tons to China. Still, futures remained on track for a second consecutive weekly loss as the advancing US harvest and expectations for a large crop continued to weigh on prices. The USDA projects US soybean production at 4.56 billion bushels for the 2026/27 marketing year. However, analysts suggested harvest-related pressure was easing as fieldwork neared completion.
2026-10-23