# Soybeans hit 2-year low amid ample supply and weak demand - Markets - Business Recorder

> Chicago soybean futures fell to a two-year low below $12 a bushel on January 30, 2024, as improving South American supply expectations and weak Chinese demand weighed on prices. Corn dipped near three-year lows and wheat fell under pressure from cheap Black Sea grain.

- Date: 2024-01-30 · published 2024-01-30T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/32152-soybeans-hit-2-year-low-amid-ample-supply-and-weak-demand-markets-business
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Expanding Argentine and Brazilian crops and slowing Chinese feed demand point to continued bearish pressure on soybean, corn and wheat prices for buyers.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40286432

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