6 days ago
Soy Touches Five-Week High After USDA's Surprise Cut to US Acres
Soybean futures jumped to the highest intraday level since July 3, with the US Department of Agriculture's surprisingly large supply cut in the previous session helping to shake up the market.
Demand for the oilseed remains uncertain as the world's top importer China continues to avoid American crops, but the supply side is tighter thanks to the USDA's chop to planted acres. With a smaller area, overall US stockpiles for the upcoming 2025-26 season are forecast to fall to the lowest in about three years.
