# Soybeans ease from 6-week high, but Brazilian crop woes limit downside - Markets - Business Recorder

> Soybeans slid from a six-week high on Monday as flooding in Brazil's Rio Grande do Sul threatened supplies from the top exporter. Wheat fell 1.7% to $6.11-1/4 after gains from Russian dry weather, and corn lost nearly 1% to $4.56. Argentina's Buenos Aires grains exchange cut its 2023/24 corn estimate by 3 million tons to 46.5 million tons due to corn stunt disease and adverse weather.

- Date: 2024-05-06 · published 2024-05-06T12:00:00.000Z
- Category: weather · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/11631-soybeans-ease-from-6-week-high-but-brazilian-crop-woes-limit-downside-markets
- 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

Brazilian flood losses and Argentine corn cuts tighten South American supply, limiting downside in soybeans and corn. Wheat's gains rest on Russian crop worries that remain unresolved.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-09-26 | [Soybeans rise for fourth session on Brazilian weather woes - Markets - Business Recorder](https://feedsoft.ai/events/28339-soybeans-rise-for-fourth-session-on-brazilian-weather-woes-markets-business.md) | +0.3% | -5.3% |
| SOY | 2022-07-28 | [Soybeans jump over 1% to two-week high as US crop faces heat - Markets - Business Recorder](https://feedsoft.ai/events/8745-soybeans-jump-over-1-to-two-week-high-as-us-crop-faces-heat-markets-business.md) | -1.3% | -1.1% |
| SOY | 2023-02-21 | [Corn near 1-week high on Argentina supply woes, soybeans firm - Markets - Business Recorder](https://feedsoft.ai/events/37347-corn-near-1-week-high-on-argentina-supply-woes-soybeans-firm-markets-business.md) | -0.6% | -2.7% |
| SOY | 2024-05-03 | [Soybeans, corn head for weekly gains as floods hit Brazil - Markets - Business Recorder](https://feedsoft.ai/events/10963-soybeans-corn-head-for-weekly-gains-as-floods-hit-brazil-markets-business.md) | +0.2% | +1.3% |
| SOY | 2022-02-11 | [Soybeans set for 4th weekly gain on South American crop woes - Markets - Business Recorder](https://feedsoft.ai/events/42735-soybeans-set-for-4th-weekly-gain-on-south-american-crop-woes-markets-business.md) | +1.1% | +7.4% |
| CORN | 2022-07-28 | [Soybeans jump over 1% to two-week high as US crop faces heat - Markets - Business Recorder](https://feedsoft.ai/events/8745-soybeans-jump-over-1-to-two-week-high-as-us-crop-faces-heat-markets-business.md) | +2.8% | +5.6% |
| CORN | 2023-02-21 | [Corn near 1-week high on Argentina supply woes, soybeans firm - Markets - Business Recorder](https://feedsoft.ai/events/37347-corn-near-1-week-high-on-argentina-supply-woes-soybeans-firm-markets-business.md) | -4.0% | -5.1% |
| CORN | 2024-05-03 | [Soybeans, corn head for weekly gains as floods hit Brazil - Markets - Business Recorder](https://feedsoft.ai/events/10963-soybeans-corn-head-for-weekly-gains-as-floods-hit-brazil-markets-business.md) | -0.7% | +3.5% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40301961

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