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Soybeans Stabilize Near $13 Per Bushel on Chinese Demand and Oil Price Hikes

Guavy AI Editorial Team
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Soybean futures have stabilized near $13 per bushel, their highest level since December 2023. This price is supported by strong buying from China and rising oil prices.

The USDA's latest supply-and-demand report was released last week, adjusting the US soybean production forecast to a record 4.535 billion bushels for the 2026/27 crop year. This is up slightly from August's estimate of 4.519 billion bushels.

The report also projected ending stocks at 310 million bushels, above market expectations but down from 320 million in August.

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