Soybean futures prices strengthened to $12

Soybean futures prices strengthened to $12.18 following USDA’s announcement of higher-than-expected weekly export sales. Market participants warn that currency fluctuations may add another layer of risk to near-term futures contracts. Nov 25 Soybeans  closed at $10.18, down 5 3/4 cents, More limited changes were seen to corn and soybean use. Soybean export use estimates declined further to reflect the continued absence of demand from China for new-crop US soybeans. Perhaps the only bullish component of the report was the increase in expected corn exports. 2025/26 US corn exports are projected to be nearly three billion bushels, a 100-million-bushel increase from the August report. Soybean futures prices have consolidated around $12.16, with moving averages hinting at potential upside if weather models turn drier. Export routes through the Gulf of Mexico are stable, supporting consistent delivery timelines.