# Dry Brazil, Demand Set Soybeans On Track For Biggest Weekly Gain Since August | ESM Magazine

> Chicago soybean futures were on track for their biggest weekly gain since August, supported by dry weather in Brazil and strong Chinese demand. Corn and wheat also posted weekly gains, and Argentina's planting got a boost from recent rains.

- Date: 2020-11-06 · published 2020-11-06T12:00:00.000Z
- Category: weather · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/12424-dry-brazil-demand-set-soybeans-on-track-for-biggest-weekly-gain-since-august
- 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

Dryness in Brazil threatens South American soybean and corn supplies during export season, which tends to lift global feed grain and soymeal prices.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-07-29 | [Soybeans set for biggest weekly gain in 22 years as U.S. Midwest heats up \| Financial Post](https://feedsoft.ai/events/8740-soybeans-set-for-biggest-weekly-gain-in-22-years-as-u-s-midwest-heats-up.md) | +0.4% | -3.5% |
| SOY | 2016-05-10 | [Argentina Floods Spark Biggest Bet On Soybean Rally In Two Years \| ESM Magazine](https://feedsoft.ai/events/6520-argentina-floods-spark-biggest-bet-on-soybean-rally-in-two-years-esm-magazine.md) | +4.5% | +12.0% |
| SOY | 2022-02-11 | [Soybeans set for 4th weekly gain on South American crop woes - Markets - Business Recorder](https://feedsoft.ai/events/42735-soybeans-set-for-4th-weekly-gain-on-south-american-crop-woes-markets-business.md) | +1.1% | +7.4% |
| SOY | 2024-05-03 | [Soybeans, corn head for weekly gains as floods hit Brazil - Markets - Business Recorder](https://feedsoft.ai/events/10963-soybeans-corn-head-for-weekly-gains-as-floods-hit-brazil-markets-business.md) | +0.2% | +1.3% |
| SOY | 2023-01-02 | [Soybeans set to gain for 4th year amid Argentina drought, China demand](https://feedsoft.ai/events/8620-soybeans-set-to-gain-for-4th-year-amid-argentina-drought-china-demand.md) | -1.0% | +1.2% |
| CORN | 2022-07-29 | [Soybeans set for biggest weekly gain in 22 years as U.S. Midwest heats up \| Financial Post](https://feedsoft.ai/events/8740-soybeans-set-for-biggest-weekly-gain-in-22-years-as-u-s-midwest-heats-up.md) | +2.4% | +3.2% |
| CORN | 2022-02-11 | [Soybeans set for 4th weekly gain on South American crop woes - Markets - Business Recorder](https://feedsoft.ai/events/42735-soybeans-set-for-4th-weekly-gain-on-south-american-crop-woes-markets-business.md) | +0.7% | +14.4% |
| CORN | 2024-05-03 | [Soybeans, corn head for weekly gains as floods hit Brazil - Markets - Business Recorder](https://feedsoft.ai/events/10963-soybeans-corn-head-for-weekly-gains-as-floods-hit-brazil-markets-business.md) | -0.7% | +3.5% |

## Sources

- esmmagazine.com: https://www.esmmagazine.com/supply-chain/dry-brazil-demand-set-soybeans-track-biggest-weekly-gain-since-august-113424

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