# Soybeans hit new multi-month lows - Brownfield Ag News

> Soybean futures hit four-month lows despite China signing purchases of about 4 million tons of new-crop U.S. soybeans. Mexico also bought 275,000 tons of new-crop U.S. corn, and Egypt canceled a wheat tender for lack of response.

- Date: 2016-08-31 · published 2016-08-31T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/12396-soybeans-hit-new-multi-month-lows-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Export buying was not enough to offset record US production expectations, so soybeans and soybean meal stayed under pressure. Egypt's tender cancellation signals weaker wheat import demand.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-05-16 | [Soybeans, corn, wheat continue mostly lower trend - Brownfield Ag News](https://feedsoft.ai/events/10512-soybeans-corn-wheat-continue-mostly-lower-trend-brownfield-ag-news.md) | +2.7% | -2.0% |
| SOY | 2017-03-22 | [Soybeans mostly lower, corn down, watching South America - Brownfield Ag News](https://feedsoft.ai/events/10726-soybeans-mostly-lower-corn-down-watching-south-america-brownfield-ag-news.md) | -2.9% | -5.1% |
| SOY | 2016-07-19 | [Soybeans, corn, wheat give back gains - Brownfield Ag News](https://feedsoft.ai/events/7423-soybeans-corn-wheat-give-back-gains-brownfield-ag-news.md) | -8.8% | -5.1% |
| SOY | 2019-04-05 | [Soybeans, corn down on lack of China deal - Brownfield Ag News](https://feedsoft.ai/events/59636-soybeans-corn-down-on-lack-of-china-deal-brownfield-ag-news.md) | -1.2% | -8.5% |
| SOY | 2019-08-23 | [Soybeans, corn sink on demand concerns - Brownfield Ag News](https://feedsoft.ai/events/57622-soybeans-corn-sink-on-demand-concerns-brownfield-ag-news.md) | +0.0% | +3.1% |
| SBM | 2024-05-16 | [Soybeans, corn, wheat continue mostly lower trend - Brownfield Ag News](https://feedsoft.ai/events/10512-soybeans-corn-wheat-continue-mostly-lower-trend-brownfield-ag-news.md) | +1.5% | -3.6% |
| SBM | 2017-03-22 | [Soybeans mostly lower, corn down, watching South America - Brownfield Ag News](https://feedsoft.ai/events/10726-soybeans-mostly-lower-corn-down-watching-south-america-brownfield-ag-news.md) | -3.2% | -4.6% |
| SBM | 2016-07-19 | [Soybeans, corn, wheat give back gains - Brownfield Ag News](https://feedsoft.ai/events/7423-soybeans-corn-wheat-give-back-gains-brownfield-ag-news.md) | -9.1% | -9.0% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-hit-new-multi-month-lows/

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