# Drought, Record Heat Threaten U.S. Soybean Crop at Critical Growing Stage - CoBank Site - CoBank

> CoBank reports prolonged drought and record heat threatening U.S. soybean yields during pod-setting. Soybean planted acreage fell 4.6% year over year to its lowest level since 2020. CoBank says yield losses would tighten supplies, lower exports and strengthen soybean oil prices.

- Date: 2023-08-31 · published 2023-08-31T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/13257-drought-record-heat-threaten-u-s-soybean-crop-at-critical-growing-stage-cobank
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower soybean supplies from heat and reduced acreage support soybean and soybean oil prices, and could cut export volumes.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-09-06 | [Drought, record heat threaten US soybean crop at critical growing stage - High Plains Journal](https://feedsoft.ai/events/13246-drought-record-heat-threaten-us-soybean-crop-at-critical-growing-stage-high.md) | -1.3% | -5.7% |
| SOY | 2023-09-04 | [Crop tour sees lower soybean estimates due to drought, record heat  \| World Grain](https://feedsoft.ai/events/13245-crop-tour-sees-lower-soybean-estimates-due-to-drought-record-heat-world-grain.md) | -0.3% | -5.8% |
| SOY | 2018-02-28 | [Prolonged drought wrecking soybean and corn crops, threatens Argentina's growth — MercoPress](https://feedsoft.ai/events/66345-prolonged-drought-wrecking-soybean-and-corn-crops-threatens-argentina-s-growth.md) | +2.6% | -1.8% |
| SOY | 2026-01-29 | [Heat wave hits Argentina, threatening corn and soybean crops](https://feedsoft.ai/events/13817-heat-wave-hits-argentina-threatening-corn-and-soybean-crops.md) | +1.6% | +6.8% |
| SOY | 2020-11-30 | [Drought Continues to Hamper Brazil's Corn, Soybean Growing Season](https://feedsoft.ai/events/50007-drought-continues-to-hamper-brazil-s-corn-soybean-growing-season.md) | -2.4% | +5.3% |
| SBO | 2023-09-06 | [Drought, record heat threaten US soybean crop at critical growing stage - High Plains Journal](https://feedsoft.ai/events/13246-drought-record-heat-threaten-us-soybean-crop-at-critical-growing-stage-high.md) | -4.3% | -6.0% |
| SBO | 2023-03-15 | [Argentine soy processing in crisis as drought threatens harvest -industry group](https://feedsoft.ai/events/13976-argentine-soy-processing-in-crisis-as-drought-threatens-harvest-industry-group.md) | +1.9% | -3.8% |
| SBO | 2021-11-29 | [La Nina Is Set to Deliver Drought to Argentina’s Soybean Crop - Bloomberg](https://feedsoft.ai/events/14070-la-nina-is-set-to-deliver-drought-to-argentina-s-soybean-crop-bloomberg.md) | -2.7% | -2.3% |

## Sources

- cobank.com: https://www.cobank.com/corporate/news/2023/drought-record-heat-threaten-us-soybean-crop-at-critical-growing-stage

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