Yesterday, CBOT soybean futures halted their decline and rose, primarily supported by favorable policy developments and stabilizing crude oil prices. On Tuesday, the U.S. Treasury Department officially announced the latest biofuel tax credit policy, providing greater clarity and additional support for biofuel producers. Biofuels are a key source of demand for U.S. soybean oil. In South America, Brazil is in the early stages of its soybean harvest, with expectations of a record-high crop. StoneX estimates Brazil's 2025/26 soybean production at 181.6 million tons, up 2.3% from its January forecast. While both bullish and bearish factors coexist for U.S. soybeans, increasing pressure is gradually emerging as the Brazilian harvest progresses.