# With tight U.S. soybean market, eyes turn to South America - McKeany-Flavell

> Soybean futures rallied to new highs last week on COVID-19 vaccine optimism and reduced 2020/21 supply estimates, with Jan-21 soybeans up $0.47/bushel. Brazilian planting was 84% complete, but dry weather through December could hurt yields.

- Date: 2020-11-16 · published 2020-11-16T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/50235-with-tight-u-s-soybean-market-eyes-turn-to-south-america-mckeany-flavell
- 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

A very tight US soybean balance sheet, with export commitments at 85% of forecast, and Brazilian weather risk support soybean and meal prices into the new year.

## Read by commodity

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

## Sources

- mckeany-flavell.com: https://www.mckeany-flavell.com/with-tight-united-states-soybean-market-eyes-turn-to-south-america-11-16-20/

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