# South American support of Chicago soy futures may soon face challenges -Braun | Financial Post

> Chicago soybean futures closed at $15.14-3/4 on Thursday, the highest levels for January, with US stocks near nine-year lows relative to demand. Global stocks-to-use is roughly flat at 18.9%, as a strong Brazilian crop and weak Chinese demand offset Argentine weather problems.

- Date: 2023-01-19 · published 2023-01-19T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/10665-south-american-support-of-chicago-soy-futures-may-soon-face-challenges-braun
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Tight US supplies and Argentine weather support Chicago prices, but a looser global balance makes that support vulnerable. Feed buyers should watch for Brazilian harvest results that could weaken prices.

## Read by commodity

- SBM: neutral
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-10-11 | [Wheat, corn futures slip ahead of key USDA crop forecasts \| Financial Post](https://feedsoft.ai/events/5088-wheat-corn-futures-slip-ahead-of-key-usda-crop-forecasts-financial-post.md) | +0.8% | +4.8% |
| SOY | 2025-03-31 | [Soybean market facing typical pressure from South America](https://feedsoft.ai/events/25613-soybean-market-facing-typical-pressure-from-south-america.md) | -4.5% | +2.8% |
| SOY | 2019-10-10 | [Corn futures fall after higher U.S. yield estimate surprises traders \| Financial Post](https://feedsoft.ai/events/56587-corn-futures-fall-after-higher-u-s-yield-estimate-surprises-traders-financial.md) | +0.5% | -0.9% |
| SOY | 2020-06-30 | [Corn, soy climb on smaller-than-expected USDA acreage view \| Financial Post](https://feedsoft.ai/events/52675-corn-soy-climb-on-smaller-than-expected-usda-acreage-view-financial-post.md) | +3.3% | +3.5% |
| SOY | 2024-11-11 | [Global soybean market faces challenges amid oilseed production decline \| Feed & Grain](https://feedsoft.ai/events/27430-global-soybean-market-faces-challenges-amid-oilseed-production-decline-feed-and.md) | -1.8% | -2.6% |
| SBM | 2026-01-14 | [China’s 2025 Soybean Imports Hit Record, Fueled by S. American Purchases](https://feedsoft.ai/events/14609-china-s-2025-soybean-imports-hit-record-fueled-by-s-american-purchases.md) | +0.7% | +4.3% |
| SBM | 2026-09-09 | [China continues US soybean push amid South American purchases \| World Grain](https://feedsoft.ai/events/14550-china-continues-us-soybean-push-amid-south-american-purchases-world-grain.md) | +4.3% | +3.3% |
| SBM | 2022-08-11 | [Argentina: The overlooked hub of South American soy - Insights - Trase](https://feedsoft.ai/events/40060-argentina-the-overlooked-hub-of-south-american-soy-insights-trase.md) | -11.7% | -13.5% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/south-american-support-of-chicago-soy-futures-may-soon-face-challenges-braun

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