# Soybeans, corn, wheat give back some recent gains - Brownfield Ag News

> Soybeans fell on profit taking and technical selling after soybean oil was left off the U.S. tariff list against China. Brazil's CONAB raised its soybean estimate 0.6% to 147.7 million tons, though that is still 4.5% below last year. Flooding in Rio Grande do Sul and Argentina continued to delay planting and harvest.

- Date: 2024-05-14 · published 2024-05-14T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/10515-soybeans-corn-wheat-give-back-some-recent-gains-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Brazil's crop estimate still sits well below last year, which supports soybean prices, but the soybean oil tariff exclusion and used cooking oil competition pressure oil and bean prices. Net effect is a modest downward bias.

## Read by commodity

- SBM: neutral
- SBO: bearish ▼
- SOY: bearish ▼

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-corn-wheat-give-back-some-recent-gains/

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