# Soy tumbles to 2020 lows as rains seen aiding US crops

> Chicago soybean futures fell on Monday to their lowest level since October 2020 after forecasts of rain in the US crop belt eased concerns about hot, dry weather. Wheat gained on US export inspections and poor EU crop conditions, while corn was roughly steady.

- Date: 2024-07-31 · published 2024-07-31T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/29282-soy-tumbles-to-2020-lows-as-rains-seen-aiding-us-crops
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Favourable US weather supports larger expected soybean and corn supplies, pressuring soy prices, while EU crop problems give wheat some upward support.

## Read by commodity

- SOY: bearish ▼
- CORN: neutral
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-07-10 | [U.S. grains: Soy futures fall to 2020 low on strong US crop prospects](https://feedsoft.ai/events/11196-u-s-grains-soy-futures-fall-to-2020-low-on-strong-us-crop-prospects.md) | -6.1% | -11.5% |
| SOY | 2017-06-12 | [GRAIN MARKETS: Crops tumble as rain moves in](https://feedsoft.ai/events/70423-grain-markets-crops-tumble-as-rain-moves-in.md) | -0.3% | +8.4% |
| SOY | 2018-03-19 | [U.S. grains: Wheat tumbles as rains cross drought-hit Plains - Grainews](https://feedsoft.ai/events/8007-u-s-grains-wheat-tumbles-as-rains-cross-drought-hit-plains-grainews.md) | -2.0% | -0.7% |
| SOY | 2024-07-26 | [U.S. grains: Soy tumbles as U.S. rain forecast offers relief \| Farmtario](https://feedsoft.ai/events/29281-u-s-grains-soy-tumbles-as-u-s-rain-forecast-offers-relief-farmtario.md) | -8.4% | -15.7% |
| SOY | 2021-08-26 | [U.S. grains: Corn, soy fall as Midwest rains benefit crops - Grainews](https://feedsoft.ai/events/45594-u-s-grains-corn-soy-fall-as-midwest-rains-benefit-crops-grainews.md) | -5.1% | -4.6% |
| WHEAT | 2021-08-26 | [U.S. grains: Corn, soy fall as Midwest rains benefit crops - Grainews](https://feedsoft.ai/events/45594-u-s-grains-corn-soy-fall-as-midwest-rains-benefit-crops-grainews.md) | +0.1% | +0.3% |
| WHEAT | 2020-08-25 | [U.S. grains: Crop concerns, Chinese buying spark rallies in soy, corn - Grainews](https://feedsoft.ai/events/51652-u-s-grains-crop-concerns-chinese-buying-spark-rallies-in-soy-corn-grainews.md) | -1.9% | +7.6% |
| WHEAT | 2020-07-07 | [France’s soft wheat crop drops due to weather woes \| 2020-07-07  \| World Grain](https://feedsoft.ai/events/52050-france-s-soft-wheat-crop-drops-due-to-weather-woes-2020-07-07-world-grain.md) | +0.8% | +1.2% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/soy-tumbles-to-2020-lows-as-rains-seen-aiding-us-crops/

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