# U.S. grains: Soybeans dip to new 3-year low in volatile trading day - Manitoba Co-operator

> CBOT soybean futures fell to a new three-year low on February 29 amid improving South American weather, weak US export sales, and heavy contract deliveries. Corn was mixed and wheat was pressured by global export competition and a stronger dollar. The most active soybean contract settled at $11.40-3/4 per bushel.

- Date: 2024-02-29 · published 2024-02-29T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/31698-u-s-grains-soybeans-dip-to-new-3-year-low-in-volatile-trading-day-manitoba-co
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Ample supplies across the Americas and Black Sea keep soybean and meal prices under pressure, favoring buyers of soybean meal. A stronger dollar also weighs on US grain prices for export competitiveness.

## Read by commodity

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

## Sources

- manitobacooperator.ca: https://www.manitobacooperator.ca/daily/u-s-grains-soybeans-dip-to-new-3-year-low-in-volatile-trading-day/

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