# New WASDE data keeps soy rally alive

> USDA trimmed South American soybean production in the February WASDE, but by less than analysts had expected. Domestic soybean crush was raised by 25 million bushels, tightening US soy supplies. Corn and soybean futures on the CBOT kept rising after the report, while wheat gained on higher import forecasts for North Africa and the Middle East.

- Date: 2022-02-09 · published 2022-02-09T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/42672-new-wasde-data-keeps-soy-rally-alive
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Smaller-than-expected South American cuts leave soybean supplies tight, and the higher US crush supports soybean and meal demand. Wheat import demand from North Africa and the Middle East supports wheat prices.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-09-10 | [Soy stages surprise rally after September WASDE](https://feedsoft.ai/events/45111-soy-stages-surprise-rally-after-september-wasde.md) | +3.0% | -0.9% |
| SOY | 2022-09-12 | [WASDE sparks a corn, soybean rally – The Seam](https://feedsoft.ai/events/39609-wasde-sparks-a-corn-soybean-rally-the-seam.md) | -2.7% | -8.2% |
| SOY | 2025-01-10 | [Soybeans Post Rally on USDA Data Day](https://feedsoft.ai/events/8105-soybeans-post-rally-on-usda-data-day.md) | +2.7% | +5.8% |
| SOY | 2018-05-10 | [WASDE delivers bullish corn, soybean news](https://feedsoft.ai/events/64967-wasde-delivers-bullish-corn-soybean-news.md) | -0.7% | -3.3% |
| SOY | 2022-10-12 | [October WASDE: Soybeans rally on big yield cuts](https://feedsoft.ai/events/39105-october-wasde-soybeans-rally-on-big-yield-cuts.md) | -0.3% | +4.9% |
| SBM | 2022-09-12 | [WASDE sparks a corn, soybean rally – The Seam](https://feedsoft.ai/events/39609-wasde-sparks-a-corn-soybean-rally-the-seam.md) | -1.5% | -6.1% |
| SBM | 2022-02-10 | [WASDE update: Soybeans rally on tighter balance \| articles \| ING THINK](https://feedsoft.ai/events/42677-wasde-update-soybeans-rally-on-tighter-balance-articles-ing-think.md) | -2.7% | +6.8% |
| SBM | 2019-09-13 | [AgroPages-USDA, WASDE Reports Rallies The Soybean Market 29¢.-Agricultural news](https://feedsoft.ai/events/10851-agropages-usda-wasde-reports-rallies-the-soybean-market-29-agricultural-news.md) | -1.3% | +2.7% |

## Sources

- farmprogress.com: https://www.farmprogress.com/cotton/new-wasde-data-keeps-soy-rally-alive

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