Soybean prices face pressure despite strong export demand

branex / Depositphotos.com U.S. soybean farmers are facing continued price pressure as record production prospects and competition from Brazil outweigh signs of stronger demand. Farm Futures reports soybean futures fell nearly 6% during October, their worst monthly performance of 2026. USDA currently estimates the national soybean yield at a record 53.1 bushels per acre, with total production projected at approximately 4.56 billion bushels. The November crop report could bring additional adjustments as the fall harvest nears completion. Despite the bearish production outlook, analysts point to increased Chinese purchases and record domestic soybean crushing demand as potential sources of price support. Brazil remains a major competitor, accounting for approximately 80% of China’s soybean imports so far this year. Favorable planting conditions in Brazil could further increase global supplies. Farm Futures reports some analysts believe stronger demand could support a price recovery, although South American weather and production will remain important factors. NAFB news service