# U.S. grains: Soybeans hit one-week top - Grainews

> CBOT soybeans set a one-week high as dry weather threatened Argentina's harvest, while the USDA cut Argentina's soybean estimate to 54 million tonnes from 56. Soymeal surged to a high of $346 a short ton on fears of an Argentine crop shortfall.

- Date: 2018-02-08 · published 2018-02-08T12:00:00.000Z
- Category: weather · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/10007-u-s-grains-soybeans-hit-one-week-top-grainews
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Argentina supplies roughly half the world's soymeal, so a smaller crop tightens global meal supply and lifts feed protein prices.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2021-07-14 | [U.S. grains: Corn, soybeans up on weather worries - AgCanada](https://feedsoft.ai/events/45918-u-s-grains-corn-soybeans-up-on-weather-worries-agcanada.md) | +2.5% | +1.3% |
| SBM | 2018-02-27 | [U.S. grains: Wheat hits seven-month high on crop ratings - Grainews](https://feedsoft.ai/events/12433-u-s-grains-wheat-hits-seven-month-high-on-crop-ratings-grainews.md) | +3.2% | -0.6% |
| SBM | 2019-01-23 | [U.S. grains: Soybeans firm on South America weather worries - AgCanada](https://feedsoft.ai/events/7654-u-s-grains-soybeans-firm-on-south-america-weather-worries-agcanada.md) | -0.4% | -2.5% |
| SBM | 2021-03-06 | [U.S. grains: Soy futures rally on dry Argentina weather - Grainews](https://feedsoft.ai/events/8633-u-s-grains-soy-futures-rally-on-dry-argentina-weather-grainews.md) | -5.6% | -4.7% |
| SBM | 2022-05-26 | [U.S. grains: Rainy forecast pushes soy to three-month high - Grainews](https://feedsoft.ai/events/41426-u-s-grains-rainy-forecast-pushes-soy-to-three-month-high-grainews.md) | -1.6% | +1.2% |
| SOY | 2019-08-30 | [U.S. grains: Corn, soy set one-week highs on weather concerns - AgCanada](https://feedsoft.ai/events/5702-u-s-grains-corn-soy-set-one-week-highs-on-weather-concerns-agcanada.md) | -1.3% | +3.1% |
| SOY | 2017-05-19 | [U.S. grains: Corn hits one-week high on weather worries - AgCanada](https://feedsoft.ai/events/7590-u-s-grains-corn-hits-one-week-high-on-weather-worries-agcanada.md) | -0.6% | -0.6% |
| SOY | 2021-07-14 | [U.S. grains: Corn, soybeans up on weather worries - AgCanada](https://feedsoft.ai/events/45918-u-s-grains-corn-soybeans-up-on-weather-worries-agcanada.md) | +0.4% | +0.7% |

## Sources

- grainews.ca: https://www.grainews.ca/daily/u-s-grains-soybeans-hit-one-week-top/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.