# U.S. grains: Soy futures fall to 2020 low on strong US crop prospects

> Chicago soybean futures fell to a 2020 low on Wednesday while corn hovered near a four-year low, as favorable U.S. crop conditions capped prices. Multiple soybean and corn contracts hit lifetime lows as weather forecasts showed limited threats to summer crops. Traders expect the USDA to raise U.S. corn ending stocks and production estimates in its monthly report on Friday.

- Date: 2024-07-10 · published 2024-07-10T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/11196-u-s-grains-soy-futures-fall-to-2020-low-on-strong-us-crop-prospects
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Good crop ratings and expected upward USDA revisions point to ample supply, pressuring corn and soybean prices lower. Feed buyers can expect cheap corn and meal in the near term.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2024-07-14 | 5 | -7.2% | -3.3 | Soybeans hit 2020 lows on July 10 as favorable US crop conditions and limited weather threats drove supply-side selling and fund liquidation. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-01-03 | [U.S. grains: Soy hits six-week low on South American prospects - Grainews](https://feedsoft.ai/events/73024-u-s-grains-soy-hits-six-week-low-on-south-american-prospects-grainews.md) | 0.0% | +2.8% |
| SOY | 2024-07-31 | [Soy tumbles to 2020 lows as rains seen aiding US crops](https://feedsoft.ai/events/29282-soy-tumbles-to-2020-lows-as-rains-seen-aiding-us-crops.md) | +0.1% | -5.8% |
| SOY | 2024-01-29 | [U.S. grains: Soy hits 2-yr lows on South American crop prospects, demand worries - Manitoba Co-operator](https://feedsoft.ai/events/6842-u-s-grains-soy-hits-2-yr-lows-on-south-american-crop-prospects-demand-worries.md) | -1.7% | -6.1% |
| SOY | 2017-03-07 | [U.S. grains: Soy, corn fall on Brazil crop expectations - AgCanada](https://feedsoft.ai/events/72036-u-s-grains-soy-corn-fall-on-brazil-crop-expectations-agcanada.md) | -3.0% | -8.6% |
| SOY | 2019-06-05 | [U.S. grains: Futures plummet on Midwest weather, profit-taking - Grainews](https://feedsoft.ai/events/8688-u-s-grains-futures-plummet-on-midwest-weather-profit-taking-grainews.md) | -2.6% | -0.6% |
| CORN | 2024-01-29 | [U.S. grains: Soy hits 2-yr lows on South American crop prospects, demand worries - Manitoba Co-operator](https://feedsoft.ai/events/6842-u-s-grains-soy-hits-2-yr-lows-on-south-american-crop-prospects-demand-worries.md) | -0.7% | -7.2% |
| CORN | 2017-03-07 | [U.S. grains: Soy, corn fall on Brazil crop expectations - AgCanada](https://feedsoft.ai/events/72036-u-s-grains-soy-corn-fall-on-brazil-crop-expectations-agcanada.md) | -2.2% | -0.2% |
| CORN | 2017-06-28 | [U.S. grains: Spring wheat futures top US$7 on weather worries - Grainews](https://feedsoft.ai/events/70514-u-s-grains-spring-wheat-futures-top-us-7-on-weather-worries-grainews.md) | +5.6% | +3.0% |

## Sources

- farmtario.com: https://farmtario.com/daily/u-s-grains-soy-futures-fall-to-2020-low-on-strong-us-crop-prospects/

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