The most actively traded January soy futures contracts on the CBOT declined by 3.8% during the week. The contracts fell to their lowest level in over two months, trading at $11.87 per bushel on the morning of November 6. In the United States, the progress of harvest and expectations of higher production outweighed positive signals regarding Chinese demand.
Prior to the release of the U.S. Department of Agriculture report on November 10, analysts estimated U.S. soybean production for the 2026/27 season at 4,601 million bushels. This forecast exceeds the 4,562 million bushel level announced in October. U.S. ending stocks for the season are also expected to rise from 315 million bushels to 336 million bushels.
In Brazil's physical market, the price of 60-kilogram sacks of soy rose from 152 reais to 152.50 reais in Passo Fundo. The price remained unchanged at 148 reais in Cascavel and at 159 reais in the Port of Paranaguá; it declined from 141 reais to 140 reais in Rondonópolis.
