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Mysteel soybean and relatives market daily: U.S. soybean harvest pressure dominates; DCE soybean meal seeks bottom in weak range

Source: Mysteel Oct 21, 2026 14:39
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Soybean Soybean Meal Demand Price Supply
CBOT soybean's main November contract fell for a seventh consecutive trading day and hit a two-month low, though the single-day decline narrowed noticeably compared with previous days. Supply-side pressure is still being released: USDA crop reports showed that as of the week ending October 18, the U.S. soybean harvest was 64% complete, up from 46% the previous week, versus the five-year average of 65%; leaf drop was 96%. Dry weather in the Midwest allowed harvest machinery to operate over large areas, bringing a concentrated influx of new-crop beans to market. Marginal changes emerged on both the demand and weather fronts: in the week ending October 15, 64.02% of U.S. soybean export inspections were destined for mainland China, indicating Chinese purchasing continues;

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