# How strength in soybean prices is linked to the Black Sea conflict

> Chicago soybean futures rose through late 2021 as drought in South America curbed production, and the most-active contract had jumped almost 20% for the year before Russia's invasion of Ukraine. Prices have since largely held those gains.

- Date: 2022-03-04 · published 2022-03-04T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/12630-how-strength-in-soybean-prices-is-linked-to-the-black-sea-conflict
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Supply tightness from South American drought combined with war-related uncertainty keeps soybean and meal prices elevated, raising feed input costs.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2026-03-30 | [Biofuel Demand, Iran Conflict Push Soybean Oil Prices Toward New Peak - Bloomberg](https://feedsoft.ai/events/20195-biofuel-demand-iran-conflict-push-soybean-oil-prices-toward-new-peak-bloomberg.md) | +0.6% | +1.6% |
| SOY | 2022-03-04 | [The price of soybean meal increased in Russia](https://feedsoft.ai/events/12631-the-price-of-soybean-meal-increased-in-russia.md) | +1.2% | -3.7% |
| SOY | 2026-07-16 | [Wheat Soars as Black Sea Conflict Reshapes the Grain Markets \| Agriculture of America](https://feedsoft.ai/events/9562-wheat-soars-as-black-sea-conflict-reshapes-the-grain-markets-agriculture-of.md) | +2.6% | -3.1% |
| SOY | 2024-05-21 | [Wheat prices soar as Black Sea crop causes concern \| Dry Bulk](https://feedsoft.ai/events/4594-wheat-prices-soar-as-black-sea-crop-causes-concern-dry-bulk.md) | -1.5% | -5.9% |
| SOY | 2023-05-05 | [Black Sea tensions keep grain prices afloat](https://feedsoft.ai/events/7385-black-sea-tensions-keep-grain-prices-afloat.md) | -0.4% | -6.6% |
| SBM | 2022-03-04 | [The price of soybean meal increased in Russia](https://feedsoft.ai/events/12631-the-price-of-soybean-meal-increased-in-russia.md) | +8.6% | +1.6% |
| SBM | 2022-04-04 | [Livestock industry concerned over surging maize, soyameal prices  - The HinduBusinessLine](https://feedsoft.ai/events/41925-livestock-industry-concerned-over-surging-maize-soyameal-prices-the.md) | +2.8% | -3.1% |
| SBM | 2026-09-25 | [What’s Behind the Latest Surge in Grain and Oilseed Prices?](https://feedsoft.ai/events/11998-what-s-behind-the-latest-surge-in-grain-and-oilseed-prices.md) | -5.3% | -4.5% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/how-strength-soybean-prices-is-linked-black-sea-conflict-2022-03-04/

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