Soybean Prices Tumble Amid Record Brazil Crop and US Harvest

Soybean futures plummeted overnight as the US harvest continues to progress and expectations of another record crop in Brazil mount. According to USDA data, six percent of US soybeans were harvested at the start of the week, up from the prior five-year average of three percent for this time of year. Meanwhile, 44% of the crop was dropping leaves, ahead of the 37% average.

The corn harvest is also moving along with eight percent in the bin versus the average of six%, USDA said. Forty-two percent was mature as of Sunday, up from the average of 38%. Brazil soybean production in the 2025-2026 marketing year is now forecast by consultancy Conab at 180.4 million metric tons, up 5.2% year over year.

USDA last week forecast Brazilian production at 180.5 million metric tons, up from 172.5 million tons a year earlier. Exports are seen at 115 million metric tons. US soybean output in the 2025-2026 year is pegged at 116 million metric tons and exports are forecast at 41.4 million tons.