On Friday, the CBOT soybean front-month contract closed higher, even as the USDA's October supply and demand report came in bearish new-crop yield was raised to 53.1 bushels per acre, above the market expectation of 52.8; production was raised to 4.562 billion bushels, above the expected 4.534 billion; and ending stocks rose to 315 million bushels, above the expected 305 million and the September figure of 310 million. Yet after the report was released, U.S. soybeans staged a V-shaped reversal, with the November contract falling to as low as 1,269.75 cents intraday before rebounding quickly to close higher, reflecting that the market had largely digested the bearish news. The export side provided support: in the week ending October 1, U.S. soybean net sales totaled 549,000 tonnes, including 383,000 tonnes to China; export shipments for the week reached 1.38 million tonnes, with 828,000 tonnes shipped to China, both rebounding on a week-on-week basis.