# Soybean Futures Crumble Following Increased Acres, Record Yield and Production

> November soybean futures fell to a new contract low after USDA's August report showed 1 million more harvested acres than expected, a record yield, and record production. Ending stocks rose to the highest level in six years, while corn and wheat estimates were largely neutral to slightly bullish.

- Date: 2024-08-12 · published 2024-08-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/10465-soybean-futures-crumble-following-increased-acres-record-yield-and-production
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

The large crop and rising stocks point to ample supply, pressuring soybean and meal prices.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2024-08-15 | 5 | -8.7% | -3.8 | November soybean futures hit a contract low after USDA showed extra harvested acres, record yield and production, and six-year-high ending stocks. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2026-01-12 | [Shocking New Records in Yield and Production Pummel Corn Futures](https://feedsoft.ai/events/7092-shocking-new-records-in-yield-and-production-pummel-corn-futures.md) | +0.9% | +5.9% |
| SOY | 2023-11-10 | [Yield, Production and Stocks Increase Sends Corn and Soy Lower Following November WASDE](https://feedsoft.ai/events/33112-yield-production-and-stocks-increase-sends-corn-and-soy-lower-following.md) | +2.4% | -1.8% |
| SOY | 2022-09-01 | [Conab forecasts increased soybean, corn, and cotton production in Brazil](https://feedsoft.ai/events/13701-conab-forecasts-increased-soybean-corn-and-cotton-production-in-brazil.md) | -2.5% | -6.4% |
| SOY | 2022-11-09 | [November USDA Report Increases Corn and Soybean Production](https://feedsoft.ai/events/38642-november-usda-report-increases-corn-and-soybean-production.md) | +0.9% | +1.9% |
| SOY | 2022-08-12 | [USDA Lowers Corn Production, Increases Soybean Production in August Reports](https://feedsoft.ai/events/39956-usda-lowers-corn-production-increases-soybean-production-in-august-reports.md) | -12.5% | -12.9% |
| SBM | 2026-01-12 | [Shocking New Records in Yield and Production Pummel Corn Futures](https://feedsoft.ai/events/7092-shocking-new-records-in-yield-and-production-pummel-corn-futures.md) | -2.6% | +1.1% |
| SBM | 2022-09-01 | [Conab forecasts increased soybean, corn, and cotton production in Brazil](https://feedsoft.ai/events/13701-conab-forecasts-increased-soybean-corn-and-cotton-production-in-brazil.md) | -4.6% | -6.4% |
| SBM | 2022-08-12 | [USDA Lowers Corn Production, Increases Soybean Production in August Reports](https://feedsoft.ai/events/39956-usda-lowers-corn-production-increases-soybean-production-in-august-reports.md) | -10.9% | -15.4% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2024/08/12/soybean-futures-crumble-following

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