# U.S. grains: Soy down on South American weather, technical pressure - AgCanada

> Chicago soybean futures fell after five sessions of gains, pressured by technical resistance at moving averages and forecasts of rain in Brazil and Argentina. The most-active November contract closed 21.5 cents lower at $12.24 a bushel. Weekly U.S. soybean export sales of 2.88 million tonnes, mainly to China, beat expectations.

- Date: 2021-10-21 · published 2021-10-21T12:00:00.000Z
- Category: weather · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/44600-u-s-grains-soy-down-on-south-american-weather-technical-pressure-agcanada
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Rain forecasts in South America reduce the risk of dryness-driven yield losses there, which weighs on soybean and meal prices. Strong U.S. export sales offer some support.

## Read by commodity

- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-07-02 | [U.S. grains: Corn, soy ease on warmer weather - AgCanada](https://feedsoft.ai/events/58125-u-s-grains-corn-soy-ease-on-warmer-weather-agcanada.md) | -0.3% | -0.8% |
| SOY | 2023-10-30 | [U.S. grains: South America rains push soy futures down - Grainews](https://feedsoft.ai/events/33658-u-s-grains-south-america-rains-push-soy-futures-down-grainews.md) | +2.3% | +2.5% |
| SOY | 2017-10-30 | [U.S. grains: Soybeans retreat on Brazil rains, technical selling - AgCanada](https://feedsoft.ai/events/68486-u-s-grains-soybeans-retreat-on-brazil-rains-technical-selling-agcanada.md) | +0.2% | +2.1% |
| SOY | 2017-01-03 | [U.S. grains: Soy hits six-week low on South American prospects - Grainews](https://feedsoft.ai/events/73024-u-s-grains-soy-hits-six-week-low-on-south-american-prospects-grainews.md) | 0.0% | +2.8% |
| SOY | 2019-09-11 | [U.S. grains: Soybeans, corn ease on crop-boosting weather - AgCanada](https://feedsoft.ai/events/9148-u-s-grains-soybeans-corn-ease-on-crop-boosting-weather-agcanada.md) | +4.0% | +7.1% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-soy-down-on-south-american-weather-technical-pressure

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