CBOT soybeans rebound from 12-week low as record US harvest looms
CBOT soybean futures rose on Friday from a 12-week low, but expectations for a record US harvest kept pressure on the market, Reuters reported.
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what happened
According to Reuters, CBOT soybean futures edged higher on Friday after bouncing off a 12-week low. Analysts said expectations for a record-large US harvest still weigh on prices.
A Reuters poll sees the USDA raising its US soybean production estimate to 4.597 billion bushels in a monthly report due Tuesday, up from 4.562 billion in October. Harvest was 88% complete as of November 1. Exporters sold 136,000 metric tons of US soybeans to China for 2026/27 delivery.
The January contract ended up 5-1/2 cents at $11.93-3/4 a bushel, but fell 3.3% for the week. December soyoil closed nearly unchanged after dipping to its lowest since March 23. CHS Hedging said: "There is little that this market is grabbing onto from the bullish side as Chinese interest continues, but volumes appear light and South America weather forecasts are decent."
why it matters
The USDA report is the key event: a bigger crop estimate could extend pressure on soybeans and their products, while decent South American weather adds competition in export markets.
market impact
Soybeans and soymeal: record US harvest expectations pressure prices
- Soybeans (CBOT) pressure down — record US harvest expectations and light export volumes
tags
instruments
sources
- CBOT soybeans rebound from 12-week low — Reuters, 6 November 2026 at 20:03 UTC
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