# CBOT soybeans end higher on Argentina rainfall, labor strikes - Markets - Business Recorder

> CBOT March soybean futures climbed to their highest continuous level since June 2014, with new life-of-contract highs in soymeal and soyoil. The rally followed backed-up Argentine ports during a port labor strike and a cut to Brazil's 2020/21 soybean crop forecast to 127 million tonnes.

- Date: 2020-12-22 · published 2020-12-22T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/49745-cbot-soybeans-end-higher-on-argentina-rainfall-labor-strikes-markets-business
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Port disruption in Argentina and a smaller Brazilian crop reduce export supply just as China is expected to import a record volume. Feed buyers should expect continued upward pressure on soybean meal and oil prices.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40043745

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