# Exports support soy; corn, wheat rise on short-covering - Agweek | #1 source for agriculture news, farming, markets

> U.S. soybean futures rose to their highest in nearly four weeks on strong demand from China, the world's top soybean buyer. The USDA said private exporters sold 381,000 metric tons of soybeans to China for 2016/17 delivery, and corn and wheat posted mild gains on short-covering.

- Date: 2016-08-18 · published 2016-08-18T12:00:00.000Z
- Category: trade · region US · magnitude low
- Page: https://feedsoft.ai/events/12516-exports-support-soy-corn-wheat-rise-on-short-covering-agweek-1-source-for
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Confirmed Chinese purchases tighten nearby U.S. export supply and support soybean prices despite expectations of a record U.S. harvest. Corn and wheat gains were technical and small, so their price support is limited.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2016-11-28 | [Soybeans rise 1.2 percent on strong U.S. exports, weaker dollar - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/73899-soybeans-rise-1-2-percent-on-strong-u-s-exports-weaker-dollar-agweek-1-source.md) | -1.8% | -5.4% |
| SOY | 2020-07-16 | [Higher Chinese feed demand boosts US corn and soybean exports - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/52129-higher-chinese-feed-demand-boosts-us-corn-and-soybean-exports-agweek-1-source.md) | +1.5% | +0.5% |
| SOY | 2020-04-24 | [China buying more US beef and soybeans - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/53504-china-buying-more-us-beef-and-soybeans-agweek-1-source-for-agriculture-news.md) | +1.3% | -0.5% |
| SOY | 2018-12-13 | [USDA confirms sale of 1.13 million tons of soybeans to China - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/61445-usda-confirms-sale-of-1-13-million-tons-of-soybeans-to-china-agweek-1-source.md) | -2.2% | -2.3% |
| SOY | 2019-01-20 | [Even slightly bullish news gives markets some movement - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12388-even-slightly-bullish-news-gives-markets-some-movement-agweek-1-source-for.md) | +0.7% | -1.7% |
| CORN | 2016-11-28 | [Soybeans rise 1.2 percent on strong U.S. exports, weaker dollar - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/73899-soybeans-rise-1-2-percent-on-strong-u-s-exports-weaker-dollar-agweek-1-source.md) | -3.4% | -1.4% |
| CORN | 2020-07-16 | [Higher Chinese feed demand boosts US corn and soybean exports - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/52129-higher-chinese-feed-demand-boosts-us-corn-and-soybean-exports-agweek-1-source.md) | +0.8% | -0.4% |
| CORN | 2020-03-25 | [Cheap US corn lures Chinese buyers seeking American grain - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/54000-cheap-us-corn-lures-chinese-buyers-seeking-american-grain-agweek-1-source-for.md) | +5.3% | -3.8% |

## Sources

- agweek.com: https://www.agweek.com/business/exports-support-soy-corn-wheat-rise-on-short-covering

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