# Soybeans rise as demand for US exports blows past expectations

> Soybean futures for November delivery rose as much as 1.6% after US export sales for the week ended August 22 came in at 2.47 million tons, beating analyst forecasts. Sales for the upcoming marketing year are the strongest since July 2023.

- Date: 2024-08-29 · published 2024-08-29T12:00:00.000Z
- Category: trade · region US · magnitude low
- Page: https://feedsoft.ai/events/28786-soybeans-rise-as-demand-for-us-exports-blows-past-expectations
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Stronger export demand and possible farmer storage support soybean prices, though low prices and expected Chinese buying ahead of the US election add uncertainty.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-03-04 | [Soybeans rise on hopes for export demand, financial market gains \| Financial Post](https://feedsoft.ai/events/54186-soybeans-rise-on-hopes-for-export-demand-financial-market-gains-financial-post.md) | -2.2% | -0.8% |
| SOY | 2016-10-27 | [Demand supports soybeans, corn - Brownfield Ag News](https://feedsoft.ai/events/9242-demand-supports-soybeans-corn-brownfield-ag-news.md) | -3.3% | +3.6% |
| SOY | 2022-01-31 | [Soybeans up on export demand, supply concerns - Brownfield Ag News](https://feedsoft.ai/events/43182-soybeans-up-on-export-demand-supply-concerns-brownfield-ag-news.md) | +5.7% | +11.9% |
| SOY | 2018-07-27 | [Soybeans up on export sale, prospect for more - Brownfield Ag News](https://feedsoft.ai/events/64107-soybeans-up-on-export-sale-prospect-for-more-brownfield-ag-news.md) | +2.5% | -2.2% |
| SOY | 2022-01-12 | [Soybean oil demand expected to erupt – AgriNews](https://feedsoft.ai/events/15425-soybean-oil-demand-expected-to-erupt-agrinews.md) | +1.1% | +15.8% |
| SBM | 2025-12-02 | [US soybean meal exports exceed expectations](https://feedsoft.ai/events/21585-us-soybean-meal-exports-exceed-expectations.md) | -2.4% | -4.1% |
| SBM | 2020-03-04 | [Soybeans rise on hopes for export demand, financial market gains \| Financial Post](https://feedsoft.ai/events/54186-soybeans-rise-on-hopes-for-export-demand-financial-market-gains-financial-post.md) | -2.6% | +5.8% |
| SBM | 2022-08-05 | [More US Soybean Meal Exports Needed to Meet Global Demand \| CZ app](https://feedsoft.ai/events/40110-more-us-soybean-meal-exports-needed-to-meet-global-demand-cz-app.md) | +1.0% | -10.2% |

## Sources

- ajot.com: https://www.ajot.com/news/soybeans-rise-as-demand-for-us-exports-blows-past-expectations

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