# U.S. grains: Soybeans fall to four-year low on record U.S. crop estimate - Manitoba Co-operator

> Chicago soybeans fell to their lowest level since September 2020 after USDA projected a record crop of 4.589 billion bushels. Corn rose on a smaller-than-expected harvested area, and wheat fell on competition from Black Sea supplies.

- Date: 2024-08-12 · published 2024-08-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/10466-u-s-grains-soybeans-fall-to-four-year-low-on-record-u-s-crop-estimate-manitoba
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A record US soybean crop adds heavy supply and weighs on soybean prices, while lower corn acreage tightens the corn outlook.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2024-08-15 | 5 | -8.7% | -3.8 | Chicago soybeans fell to the lowest since September 2020 on the record USDA crop estimate, directly driving the weekly decline. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-08-13 | [Mato Grosso Prepares to Plant Record Soybean Crop \| CZ app](https://feedsoft.ai/events/13556-mato-grosso-prepares-to-plant-record-soybean-crop-cz-app.md) | -5.5% | -3.4% |
| SOY | 2024-08-22 | [Record US soybean crop forecast in 2024 \| World Grain](https://feedsoft.ai/events/28788-record-us-soybean-crop-forecast-in-2024-world-grain.md) | -0.5% | +5.2% |
| SOY | 2017-08-14 | [Brazil: Estimates for corn and soybean crop are raised again](https://feedsoft.ai/events/69285-brazil-estimates-for-corn-and-soybean-crop-are-raised-again.md) | +0.2% | +2.1% |
| SOY | 2023-09-20 | [Grain Journal \| NOPA August U.S. Soybean Crush Below Most Estimates…](https://feedsoft.ai/events/34178-grain-journal-nopa-august-u-s-soybean-crush-below-most-estimates.md) | -1.0% | -1.4% |
| SOY | 2026-08-21 | [Pro Farmer National Forecast: Corn Falls Short of Last Year's Record, But Soybeans Eye New Milestone - AgWeb](https://feedsoft.ai/events/12967-pro-farmer-national-forecast-corn-falls-short-of-last-year-s-record-but.md) | +2.9% | +6.8% |
| CORN | 2019-09-30 | [U.S. grains: Soy, corn rally on smaller-than-expected stockpiles - Manitoba Co-operator](https://feedsoft.ai/events/57114-u-s-grains-soy-corn-rally-on-smaller-than-expected-stockpiles-manitoba-co.md) | -0.9% | +1.1% |
| CORN | 2017-06-30 | [U.S. grains: Chicago wheat above $5 on U.S., Canadian concerns - Manitoba Co-operator](https://feedsoft.ai/events/70513-u-s-grains-chicago-wheat-above-5-on-u-s-canadian-concerns-manitoba-co-operator.md) | +5.6% | +3.1% |
| CORN | 2018-03-08 | [CBOT weekly outlook: USDA report sways soy, corn - Manitoba Co-operator](https://feedsoft.ai/events/10891-cbot-weekly-outlook-usda-report-sways-soy-corn-manitoba-co-operator.md) | +2.4% | +5.3% |

## Sources

- manitobacooperator.ca: https://www.manitobacooperator.ca/daily/u-s-grains-soybeans-fall-to-four-year-low-on-record-u-s-crop-estimate/

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