# Soybean prices hit 2-year high amid ASF recovery | Feed Strategy

> Soybean futures hit two-year highs after USDA cut projected US soybean yields by about 1 million tons in its September report. USDA raised its projected soybean price to $9.25 per bushel and corn to $3.50, with dry weather in Iowa and the August derecho cutting yield expectations.

- Date: 2020-09-18 · published 2020-09-18T12:00:00.000Z
- Category: weather · region US · magnitude high
- Page: https://feedsoft.ai/events/51114-soybean-prices-hit-2-year-high-amid-asf-recovery-feed-strategy
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Lower US yields and higher projected prices raise feed grain and soymeal costs for buyers, with continued strength expected while dry conditions and strong export demand persist.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2020-09-18 | 5 | +6.7% | 2.9 | Soybean futures hit two-year highs after USDA's yield cut and dry weather and derecho damage in Iowa, which supported soy complex prices including meal. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-02-11 | [Corn, soybean prices spike on reports of decreased yields \| Feed Strategy](https://feedsoft.ai/events/42746-corn-soybean-prices-spike-on-reports-of-decreased-yields-feed-strategy.md) | +1.1% | +7.4% |
| SOY | 2022-02-28 | [Soybean Prices Rise as South American Drought Reduces Harvest \| Feed & Grain](https://feedsoft.ai/events/14055-soybean-prices-rise-as-south-american-drought-reduces-harvest-feed-and-grain.md) | +5.4% | +7.5% |
| SOY | 2023-06-20 | [Corn, soybean futures up on fears of Corn Belt drought \| Feed Strategy](https://feedsoft.ai/events/9768-corn-soybean-futures-up-on-fears-of-corn-belt-drought-feed-strategy.md) | +3.7% | +1.7% |
| SOY | 2021-03-08 | [Soybeans hit highest in almost 7 years on S.American crop worry \| Financial Post](https://feedsoft.ai/events/6559-soybeans-hit-highest-in-almost-7-years-on-s-american-crop-worry-financial-post.md) | -1.3% | -1.5% |
| SOY | 2016-04-19 | [South America weather, politics push soybean prices higher \| Farm Progress](https://feedsoft.ai/events/10298-south-america-weather-politics-push-soybean-prices-higher-farm-progress.md) | +4.8% | +11.6% |
| CORN | 2022-02-11 | [Corn, soybean prices spike on reports of decreased yields \| Feed Strategy](https://feedsoft.ai/events/42746-corn-soybean-prices-spike-on-reports-of-decreased-yields-feed-strategy.md) | +0.7% | +14.4% |
| CORN | 2020-10-08 | [Poultry feed prices hit five-year high - Poultry Network](https://feedsoft.ai/events/50750-poultry-feed-prices-hit-five-year-high-poultry-network.md) | +2.3% | +6.5% |
| CORN | 2022-02-28 | [Soybean Prices Rise as South American Drought Reduces Harvest \| Feed & Grain](https://feedsoft.ai/events/14055-soybean-prices-rise-as-south-american-drought-reduces-harvest-feed-and-grain.md) | +10.4% | +14.4% |

## Sources

- feedstrategy.com: https://www.feedstrategy.com/animal-health-veterinary/african-swine-fever/article/15441649/soybean-prices-hit-2-year-high-amid-asf-recovery

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