# US soybean prices fall to three-year low as weather forecasts a record harvest | GrainProTrade

> US soybean futures for November delivery fell 2.9% to $10.18 a bushel in Chicago, the lowest since October 2020, as Midwest rain forecasts eased crop-loss worries. Export sales are slower than usual, and China's soybean meal stocks rose to a five-year high amid weak feed demand.

- Date: 2024-07-30 · published 2024-07-30T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/29280-us-soybean-prices-fall-to-three-year-low-as-weather-forecasts-a-record-harvest
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Expected bumper US supply and weak Chinese crush margins point to continued downward pressure on soybeans and soybean meal prices.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Sources

- grain-protrade.com: https://grain-protrade.com/news/us-soy-prices-fall-to-three-year-lows-as-weather-expects-a-record-harvest/

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