# Soybeans set to gain for 4th year amid Argentina drought, China demand | Financial Post

> Chicago soybeans rose to about $15.26 a bushel on Dec 30, on track for a fourth straight annual gain. Support came from a drought in Argentina and expectations of stronger Chinese demand as Beijing eases COVID controls. Wheat and corn also edged higher.

- Date: 2022-12-30 · published 2022-12-30T12:00:00.000Z
- Category: weather · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/38279-soybeans-set-to-gain-for-4th-year-amid-argentina-drought-china-demand-financial
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Argentine dry weather threatens soybean and meal supply from the top exporter just as China, the largest importer, restocks, which supports soybean and meal prices into 2023.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-01-02 | [Soybeans set to gain for 4th year amid Argentina drought, China demand](https://feedsoft.ai/events/8620-soybeans-set-to-gain-for-4th-year-amid-argentina-drought-china-demand.md) | -1.0% | +1.2% |
| SOY | 2022-07-29 | [Soybeans set for biggest weekly gain in 22 years as U.S. Midwest heats up \| Financial Post](https://feedsoft.ai/events/8740-soybeans-set-for-biggest-weekly-gain-in-22-years-as-u-s-midwest-heats-up.md) | +0.4% | -3.5% |
| SOY | 2023-04-04 | [Argentina to lose soy meal export crown to Brazil as drought bites \| Financial Post](https://feedsoft.ai/events/36484-argentina-to-lose-soy-meal-export-crown-to-brazil-as-drought-bites-financial.md) | -1.6% | -5.4% |
| SOY | 2020-11-20 | [Soybeans at four-year high as demand and weather keep market bubbling \| Financial Post](https://feedsoft.ai/events/50177-soybeans-at-four-year-high-as-demand-and-weather-keep-market-bubbling-financial.md) | +1.2% | +3.6% |
| SOY | 2020-10-06 | [Dry weather pushes CBOT wheat, soybeans to multi-year peaks \| Financial Post](https://feedsoft.ai/events/11636-dry-weather-pushes-cbot-wheat-soybeans-to-multi-year-peaks-financial-post.md) | +1.2% | +2.9% |
| CORN | 2022-07-29 | [Soybeans set for biggest weekly gain in 22 years as U.S. Midwest heats up \| Financial Post](https://feedsoft.ai/events/8740-soybeans-set-for-biggest-weekly-gain-in-22-years-as-u-s-midwest-heats-up.md) | +2.4% | +3.2% |
| CORN | 2020-11-20 | [Soybeans at four-year high as demand and weather keep market bubbling \| Financial Post](https://feedsoft.ai/events/50177-soybeans-at-four-year-high-as-demand-and-weather-keep-market-bubbling-financial.md) | +0.1% | +1.2% |
| CORN | 2020-10-06 | [Dry weather pushes CBOT wheat, soybeans to multi-year peaks \| Financial Post](https://feedsoft.ai/events/11636-dry-weather-pushes-cbot-wheat-soybeans-to-multi-year-peaks-financial-post.md) | +2.6% | +6.8% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/soybeans-set-to-gain-for-4th-year-amid-argentina-drought-china-demand

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