Quarterly US soybean stocks hold back sharper highs

well as an adjustment relative to the March planting intention. The report indicated an area of ​​83.830 mln acres for the 2025/26 season, against the intention of 83.495 mln—equivalent to 33.7 and 33.78 mln hectares, respectively—that is, still significantly below the previous season. The main focus from now on will be crop development. US stocks are likely to tighten, especially considering the growing demand for crushing and the expectation of Chinese purchases in the fourth quarter, with the arrival of the new crop. Therefore, we cannot have major productivity losses; otherwise, stocks may be compromised, causing soybean prices to reach USD 11.00 in the next two months. On the other hand, the larger quarterly stocks and slower exports of the old crop may bring some relief. Thus, there is no clear trend for the futures market in the short term, with lateral behavior in a range of around 50 cents, and a larger range, of approximately USD 1.00, between USD 10.00 and USD 11.00, ...