# Historic Drop: Soybeans' Vigorous $1 Fall Thursday Reaches New Record - AgWeb

> Soybean futures suffered their largest single-day drop on record on June 24, with July and August contracts closing down more than $1 per bushel. The selloff was driven by forecasts for cooler, wetter Corn Belt weather, extended price limits, and concerns about Fed rate hikes, possible Chinese speculation curbs, and biofuel exemptions.

- Date: 2021-06-24 · published 2021-06-24T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/46617-historic-drop-soybeans-vigorous-1-fall-thursday-reaches-new-record-agweb
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The sharp break lowers soybean and meal prices and reflects weather-driven demand concerns, though a stronger dollar and policy uncertainty add volatility for feed input costs.

## Read by commodity

- DXY: bullish ▲
- SBM: bearish ▼
- SOY: bearish ▼

## Sources

- agweb.com: https://www.agweb.com/news/crops/soybeans/historic-drop-soybeans-vigorous-1-fall-thursday-reaches-new-record

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