# USA: CBOT soybeans fall to four-year low due to weak demand and excess supply - Trade4go

> CBOT soybean futures fell to their lowest since November 2020 for a third straight session, with August contracts settling at $11.31 1/4 after a 17 3/4 cent drop. The USDA rated 68% of the U.S. soybean crop good or excellent, the best for this time of year since 2020. Wheat rose slightly on European yield concerns and possible harvest delays from Hurricane Beryl, while corn edged up on a technical move.

- Date: 2024-07-13 · published 2024-07-13T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/11200-usa-cbot-soybeans-fall-to-four-year-low-due-to-weak-demand-and-excess-supply
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Strong U.S. crop ratings and weak crush margins keep downward pressure on soybeans and soybean meal. Wheat's gain on European crop worries provides only modest support.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2024-07-14 | 5 | -7.2% | -3.3 | CBOT soybeans fell to a four-year low on weak demand and excess supply, with the best US crop ratings since 2020. |
| SBM | 2024-07-14 | 1 | -7.5% | -6.3 | CBOT soybeans fell to a four-year low on weak demand and excess supply with strong US crop ratings, a bearish supply backdrop for meal. |
| SOY | 2024-07-14 | 1 | -5.0% | -5.0 | Prices at a four-year low on excess supply and strong crop ratings set up the downtrend and selling momentum. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-06-29 | [Soybean oil supply and demand: Scott Gerlt comments - Fastmarkets](https://feedsoft.ai/events/15304-soybean-oil-supply-and-demand-scott-gerlt-comments-fastmarkets.md) | +5.2% | +5.6% |
| SOY | 2019-12-09 | [Canola, soybeans and potatoes left in fields after weather and trade war deliver 'brutal' year for farming \| Financial Post](https://feedsoft.ai/events/55537-canola-soybeans-and-potatoes-left-in-fields-after-weather-and-trade-war-deliver.md) | +2.0% | +5.1% |
| SOY | 2026-07-29 | [CBOT soybeans sink on favorable US weather \| Reuters](https://feedsoft.ai/events/9378-cbot-soybeans-sink-on-favorable-us-weather-reuters.md) | -4.7% | +1.3% |
| SOY | 2016-08-25 | [U.S. grains: Soybeans sag to near two-week low as crop impresses scouts - Grainews](https://feedsoft.ai/events/12394-u-s-grains-soybeans-sag-to-near-two-week-low-as-crop-impresses-scouts-grainews.md) | -6.9% | -5.3% |
| SOY | 2024-02-07 | [Corn, soybeans touch new multi-year lows on grain glut worries  - The Globe and Mail](https://feedsoft.ai/events/7198-corn-soybeans-touch-new-multi-year-lows-on-grain-glut-worries-the-globe-and-mail.md) | -1.1% | -4.9% |
| SBM | 2016-08-25 | [U.S. grains: Soybeans sag to near two-week low as crop impresses scouts - Grainews](https://feedsoft.ai/events/12394-u-s-grains-soybeans-sag-to-near-two-week-low-as-crop-impresses-scouts-grainews.md) | -5.8% | -7.1% |
| SBM | 2023-11-25 | [Soybeans fall as rain benefits top supplier Brazil - Markets - Business Recorder](https://feedsoft.ai/events/33226-soybeans-fall-as-rain-benefits-top-supplier-brazil-markets-business-recorder.md) | -5.8% | -11.3% |
| SBM | 2026-07-29 | [Soybeans Sink on Weather, Pulling Down Corn and Wheat: Cattle Continue to Recover - AgWeb](https://feedsoft.ai/events/18361-soybeans-sink-on-weather-pulling-down-corn-and-wheat-cattle-continue-to-recover.md) | -2.2% | +1.5% |

## Sources

- trade4go.com: https://www.trade4go.com/news/cbot-soybeans-fall-to-four-year-low-due-to-w-wxwzta

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