# Old-crop soybeans press beyond $16 per bushel - McKeany-Flavell

> Jul-21 soybean futures closed at $15.89 per bushel after rising about 66 cents over the week, with soybean meal at $441.80 per short ton and soybean oil at $0.6448 per pound. Brazil exported a record 17.4 million tons of soybeans, 74% to China, while low Parana River levels are forcing Argentine shippers to cut loads.

- Date: 2021-05-10 · published 2021-05-10T12:00:00.000Z
- Category: logistics · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/11983-old-crop-soybeans-press-beyond-16-per-bushel-mckeany-flavell
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Barge Freight (St. Louis)](https://feedsoft.ai/c/BARGE.md)

## Why it matters

Record Brazilian exports and river-related loading restrictions in Argentina tighten near-term supply of soybeans and meal, supporting prices while the market prices in strong new-crop values.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲
- BARGE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-12-23 | [Soybeans gain as South American supply falters - Markets - Business Recorder](https://feedsoft.ai/events/49494-soybeans-gain-as-south-american-supply-falters-markets-business-recorder.md) | +4.5% | +5.2% |
| SOY | 2020-10-13 | [Soybeans, corn recover some losses - Brownfield Ag News](https://feedsoft.ai/events/11787-soybeans-corn-recover-some-losses-brownfield-ag-news.md) | +2.0% | +6.9% |
| SOY | 2020-03-25 | [Supplying The Soybean - Biz New Orleans](https://feedsoft.ai/events/54032-supplying-the-soybean-biz-new-orleans.md) | -0.1% | -5.9% |
| SOY | 2024-10-22 | [Soybeans, corn continue to rise - Brownfield Ag News](https://feedsoft.ai/events/11150-soybeans-corn-continue-to-rise-brownfield-ag-news.md) | -0.7% | +2.9% |
| SOY | 2020-08-11 | [Dredging of Mississippi River means more soybeans moved to port \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/51510-dredging-of-mississippi-river-means-more-soybeans-moved-to-port-iowa.md) | +4.1% | +11.0% |
| SBM | 2020-12-23 | [Soybeans gain as South American supply falters - Markets - Business Recorder](https://feedsoft.ai/events/49494-soybeans-gain-as-south-american-supply-falters-markets-business-recorder.md) | +4.2% | +6.7% |
| SBM | 2022-01-11 | [Shallow Parana river pressures Argentinian FOB soybean meal, oil basis levels \| S&P Global](https://feedsoft.ai/events/43209-shallow-parana-river-pressures-argentinian-fob-soybean-meal-oil-basis-levels-s.md) | +2.9% | +6.0% |
| SBM | 2020-12-14 | [Argentina's soybean crushers pull meal, oil offers as strikes continue - Fastmarkets](https://feedsoft.ai/events/49721-argentina-s-soybean-crushers-pull-meal-oil-offers-as-strikes-continue.md) | +5.6% | +21.5% |

## Sources

- mckeany-flavell.com: https://www.mckeany-flavell.com/old-crop-soybeans-press-beyond-16-dolars-per-bushel-05-10-21/

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