# Soybean and corn prices are sharply dropping in global markets, with the cause still unknown.

> Chicago soybean futures fell to a four-year low on August 13, 2024, on expectations of a large US harvest. USDA raised its corn production forecast while lowering its 2024-25 ending stocks estimate, and reported soybean and corn sales to China and Mexico.

- Date: 2024-08-14 · published 2024-08-14T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/12649-soybean-and-corn-prices-are-sharply-dropping-in-global-markets-with-the-cause
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Expected US supply growth pressures soybean and corn futures, while strong Gulf soybean bids and export sales provide some support for spot demand.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-08-01 | [As bean prices go lower, are the macro markets still intrigued](https://feedsoft.ai/events/12260-as-bean-prices-go-lower-are-the-macro-markets-still-intrigued.md) | -3.5% | -6.0% |
| SOY | 2018-09-21 | [Surprising Drop in Prices of Corn, Soybeans, and Soy Meal – Lider Media](https://feedsoft.ai/events/62927-surprising-drop-in-prices-of-corn-soybeans-and-soy-meal-lider-media.md) | +0.6% | +1.6% |
| SOY | 2016-11-09 | [Corn, soybean markets drop after USDA hikes production](https://feedsoft.ai/events/73821-corn-soybean-markets-drop-after-usda-hikes-production.md) | -1.6% | +2.5% |
| SOY | 2022-05-28 | [Where Could Corn and Soybean Prices Be this Fall? - AgWeb](https://feedsoft.ai/events/41429-where-could-corn-and-soybean-prices-be-this-fall-agweb.md) | -1.9% | -4.0% |
| SOY | 2024-07-01 | [Is the Cattle Market Topping and When Will Corn Bottom? - AgWeb](https://feedsoft.ai/events/7976-is-the-cattle-market-topping-and-when-will-corn-bottom-agweb.md) | +2.1% | -8.3% |
| CORN | 2026-09-30 | [US corn and soybeans prices fall sharply after USDA stocks surprise \| S&P Global](https://feedsoft.ai/events/17402-us-corn-and-soybeans-prices-fall-sharply-after-usda-stocks-surprise-s-and-p.md) | -0.5% | -6.2% |
| CORN | 2018-09-21 | [Surprising Drop in Prices of Corn, Soybeans, and Soy Meal – Lider Media](https://feedsoft.ai/events/62927-surprising-drop-in-prices-of-corn-soybeans-and-soy-meal-lider-media.md) | +3.0% | +4.1% |
| CORN | 2016-11-09 | [Corn, soybean markets drop after USDA hikes production](https://feedsoft.ai/events/73821-corn-soybean-markets-drop-after-usda-hikes-production.md) | -6.6% | -4.5% |

## Sources

- traderknows.com: https://www.traderknows.com/en/news/798af4820ab34983b3e638affa028a84

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