According to a report on November 10, the US Department of Agriculture (USDA) November Supply and Demand Report (WASDE) predicted that US soybean production will be lower than expected, but it will still be the second largest ever.

Soybean futures broke a four-day losing streak in Chicago to rise the most in almost three weeks to $12.12 a bushel.Climate issues have caused crop prices this year to reach their highest levels in the past decade, further exacerbating food inflation.A United Nations index that tracks staple foods ranging from grains to vegetable oils climbed 3% in October, setting a new high in a decade.