# Soybeans slide on predicted rains in Brazil - Markets - Business Recorder

> Chicago soybean futures fell on December 1 as forecast rain for drought-stricken northern Brazil was expected to help crops facing low yields and damage. The most active contract settled 17-3/4 cents lower at $13.25 per bushel, while corn and wheat ended higher on short covering.

- Date: 2023-12-02 · published 2023-12-02T12:00:00.000Z
- Category: weather · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/32740-soybeans-slide-on-predicted-rains-in-brazil-markets-business-recorder
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Improving Brazilian rainfall eases fears of a smaller supply from the top exporter, which removes some support for soybean and meal prices.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-11-25 | [Soybeans fall as rain benefits top supplier Brazil - Markets - Business Recorder](https://feedsoft.ai/events/33226-soybeans-fall-as-rain-benefits-top-supplier-brazil-markets-business-recorder.md) | -0.4% | -2.3% |
| SOY | 2021-01-12 | [CBOT soyabean futures fall on better rains - Markets - Business Recorder](https://feedsoft.ai/events/9542-cbot-soyabean-futures-fall-on-better-rains-markets-business-recorder.md) | +0.8% | +2.0% |
| SOY | 2025-07-31 | [Wheat down 1-3 cents, corn down 1-2, soybeans down 1-2 - Markets - Business Recorder](https://feedsoft.ai/events/23790-wheat-down-1-3-cents-corn-down-1-2-soybeans-down-1-2-markets-business-recorder.md) | -0.6% | +6.1% |
| SOY | 2021-01-20 | [Soybeans down for third session on South America rains; wheat, corn fall - Markets - Business Recorder](https://feedsoft.ai/events/8238-soybeans-down-for-third-session-on-south-america-rains-wheat-corn-fall-markets.md) | -1.1% | -0.1% |
| SOY | 2021-01-20 | [CBOT soyabean futures fall - Markets - Business Recorder](https://feedsoft.ai/events/9540-cbot-soyabean-futures-fall-markets-business-recorder.md) | -1.1% | -0.1% |
| SBM | 2023-11-25 | [Soybeans fall as rain benefits top supplier Brazil - Markets - Business Recorder](https://feedsoft.ai/events/33226-soybeans-fall-as-rain-benefits-top-supplier-brazil-markets-business-recorder.md) | -5.8% | -11.3% |
| SBM | 2021-01-20 | [CBOT soyabean futures fall - Markets - Business Recorder](https://feedsoft.ai/events/9540-cbot-soyabean-futures-fall-markets-business-recorder.md) | -2.4% | -3.5% |
| SBM | 2024-10-25 | [Soybean market turns on Brazil](https://feedsoft.ai/events/13540-soybean-market-turns-on-brazil.md) | -3.3% | -7.3% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40276408

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