Soy climbs to 17 month high

November 13th, 2025 12:00 PM

(Chicago, IL) Soybean futures have climbed to their highest levels in nearly a year and a half, despite lingering doubts about the pace of Chinese purchases. The January contract rose as much as 1.47% Thursday, driven largely by expectations that USDA’s upcoming WASDE report will show a slight cut in national yield estimates. Many in the trade are looking for yields around 53.1 bushels per acre, just below the October figure of 53.5. This mild drop in expected production is helping support prices even as actual export volumes to China remain well below the 12 million tons promised under a recent trade truce.

For growers, the key risk now is how markets respond to Friday’s WASDE report. If USDA surprises with a higher yield figures--especially anything above 53.5 bu/acre--analysts expect the rally could reverse quickly as fund traders exit long positions. At FBN Brokerage, we don't think those soybean yields need to drop at all and, could in fact rise. While prices are strong today, they’re being held up more by technical buying and production uncertainty than firm demand. Producers with unpriced bushels may want to consider using this rally to lock in profits ahead of the report.

See and trade the market in real-time with FBN BR's TradeDesk.

Take a 14 Day FREE demo and experience live quotes

Disclaimer: The risk of trading futures and options can be substantial and may not be suitable for all investors. All information, publications, and reports, including this specific material, used and distributed by FBN BR LLC shall be construed as a solicitation. FBN BR LLC does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71. Past performance is not necessarily indicative of future results. For the purposes of quality assurance and compliance, emails, text messages and phone calls to and from FBN BR LLC may be recorded and archived.