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Mysteel soybean and relatives market daily: US soybeans fall to a seven-and-a-half-week low; spot soybean meal markets remain weak

Source: Mysteel Oct 20, 2026 11:28
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Soybean Soybean Meal Demand Price Supply
CBOT soybean futures' benchmark November contract fell for a sixth consecutive trading session, with the intraday low touching 1,249.75 cents, a seven-and-a-half-week low. Bearish factors on the supply side continued to build: USDA weekly data showed that as of the week ending October 18, the US soybean harvest was 64% complete, up from 46% the previous week and compared with the five-year average of 65%. Dry weather in the Midwest accelerated combine operations, and the pressure from concentrated new-crop market arrivals was fully released. In addition, the USDA's October report had already raised the US soybean yield estimate to a record high of 53.1 bushels per acre. On the demand side, China has been largely absent from US soybean purchases since the National Day holiday. In the week ending October 15, inspected shipments to China accounted for 64.02%, which, while maintaining a certain share, remained low in absolute volume.

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