# Soybeans trip up top traders, prompt rare offer to U.S. farmers | Reuters

> Soybean futures rallied 37% this spring after flooding in Argentina prompted heavy buying, catching many traders off guard. Cargill and Bunge sold most of the soybeans they held for farmers at about $9 a bushel, well below the June peak near $12.

- Date: 2016-08-24 · published 2016-08-24T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/12398-soybeans-trip-up-top-traders-prompt-rare-offer-to-u-s-farmers-reuters
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

The episode shows how Argentine supply shocks can drive sharp price swings, which matters for feed buyers hedging soybean meal costs. The sales at lower prices reflect how far the rally has reversed.

## Read by commodity

- SOY: neutral

## Sources

- reuters.com: https://www.reuters.com/article/world/soybeans-trip-up-top-traders-prompt-rare-offer-to-us-farmers-idUSKCN10Z18X/

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