# Soy steady near three-week top as exports offset output forecast - Agweek | #1 source for agriculture news, farming, markets

> Chicago soybean futures held near a three-week high in European trading as brisk export demand offset the USDA's forecast for a record US harvest. Corn recovered from a seven-year low hit after the USDA also projected a record crop. Wheat ticked lower under large global supplies.

- Date: 2016-08-16 · published 2016-08-16T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/11870-soy-steady-near-three-week-top-as-exports-offset-output-forecast-agweek-1
- 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

Strong export sales to China are offsetting the record crop outlook, supporting soybean prices. Feed buyers should expect firm soybean and corn costs while wheat remains a cheaper alternative.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-01-22 | [Post-USDA report fallout in markets - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/72940-post-usda-report-fallout-in-markets-agweek-1-source-for-agriculture-news.md) | -1.7% | -3.3% |
| SOY | 2017-10-15 | [WASDE Report surprises soybean market - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/68415-wasde-report-surprises-soybean-market-agweek-1-source-for-agriculture-news.md) | -2.1% | -2.3% |
| SOY | 2016-05-11 | [Soy edges toward 21-month high as supplies tighten - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/6521-soy-edges-toward-21-month-high-as-supplies-tighten-agweek-1-source-for.md) | +0.4% | +9.5% |
| SOY | 2024-11-21 | [USDA's lower ending stocks boost markets briefly - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/6062-usda-s-lower-ending-stocks-boost-markets-briefly-agweek-1-source-for.md) | -0.2% | -2.8% |
| SOY | 2016-05-09 | [USDA slashes soy supply view; prices surge - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/6519-usda-slashes-soy-supply-view-prices-surge-agweek-1-source-for-agriculture-news.md) | +2.8% | +10.9% |
| CORN | 2017-01-22 | [Post-USDA report fallout in markets - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/72940-post-usda-report-fallout-in-markets-agweek-1-source-for-agriculture-news.md) | -0.4% | +0.5% |
| CORN | 2021-08-20 | [Market turns quiet after report - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12608-market-turns-quiet-after-report-agweek-1-source-for-agriculture-news-farming.md) | +0.4% | -6.4% |
| CORN | 2018-03-11 | [USDA report perplexes - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/65959-usda-report-perplexes-agweek-1-source-for-agriculture-news-farming-markets.md) | +1.7% | +5.0% |

## Sources

- agweek.com: https://www.agweek.com/business/soy-steady-near-three-week-top-as-exports-offset-output-forecast

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