# 4 Factors Affecting Soybean Futures in August

> Soybean prices are near levels not seen in nearly four years ahead of harvest. Analyst Naomi Blohm lists weather during August pod-filling, the August 12 USDA report, export and crush demand, and market positioning as key factors.

- Date: 2024-07-23 · published 2024-07-23T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/12105-4-factors-affecting-soybean-futures-in-august
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Weather during pod-filling and the USDA August report could shift soybean supply expectations and provide price support if conditions turn hot or dry.

## Read by commodity

- SBM: neutral
- SOY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-07-31 | [The status of the Midwest and U.S. soybean crop heading into August — AgVenture WSC](https://feedsoft.ai/events/13169-the-status-of-the-midwest-and-u-s-soybean-crop-heading-into-august-agventure-wsc.md) | +0.1% | -5.8% |
| SOY | 2026-06-15 | [Storms, flooding, hail test U.S. corn and soybean farmers](https://feedsoft.ai/events/12990-storms-flooding-hail-test-u-s-corn-and-soybean-farmers.md) | +0.2% | +8.4% |
| SOY | 2022-04-21 | [Moisture vs. Drought in Corn, Soybean States](https://feedsoft.ai/events/13369-moisture-vs-drought-in-corn-soybean-states.md) | -1.2% | -4.8% |
| SOY | 2023-06-29 | [Soybean Production and Demand Are Up in the Air](https://feedsoft.ai/events/35544-soybean-production-and-demand-are-up-in-the-air.md) | +5.2% | +5.6% |
| SOY | 2022-12-12 | [Brazil producers hope for rain as soybean planting nears end](https://feedsoft.ai/events/13678-brazil-producers-hope-for-rain-as-soybean-planting-nears-end.md) | -0.3% | +1.8% |
| SBM | 2024-07-31 | [The status of the Midwest and U.S. soybean crop heading into August — AgVenture WSC](https://feedsoft.ai/events/13169-the-status-of-the-midwest-and-u-s-soybean-crop-heading-into-august-agventure-wsc.md) | -1.0% | -8.2% |
| SBM | 2018-11-07 | [Ocean Shock: Fishmeal factories plunder Africa](https://feedsoft.ai/events/62138-ocean-shock-fishmeal-factories-plunder-africa.md) | -2.4% | -0.4% |
| SBM | 2022-01-27 | [Soybean Oil/Soybean Meal Yield Linked to Temperatures](https://feedsoft.ai/events/13391-soybean-oil-soybean-meal-yield-linked-to-temperatures.md) | +7.8% | +15.4% |

## Sources

- agriculture.com: https://www.agriculture.com/4-factors-affecting-soybean-futures-in-august-8682224

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