# Soybeans supported by demand, damage concerns - Brownfield Ag News

> Soybeans rose on commercial and technical buying amid crop stress from hot, dry weather and strong demand for new-crop beans. US beans trade at a large discount to Brazil, whose old-crop supply is nearly exhausted. Corn was mostly lower on spread trade and profit taking, while the EU cut its 2020 corn estimate to 70.2 million tons.

- Date: 2020-08-28 · published 2020-08-28T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/51651-soybeans-supported-by-demand-damage-concerns-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Weather stress and a discount to Brazil support US soybean demand and prices, while the expected USDA yield cut for corn could tighten feed grain supplies later.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: neutral
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-07-14 | [Soybeans, corn supported by renewed weather concerns - Brownfield Ag News](https://feedsoft.ai/events/69796-soybeans-corn-supported-by-renewed-weather-concerns-brownfield-ag-news.md) | +4.2% | -4.3% |
| SOY | 2017-05-19 | [Demand props up soybeans, corn - Brownfield Ag News](https://feedsoft.ai/events/10223-demand-props-up-soybeans-corn-brownfield-ag-news.md) | -0.6% | -0.6% |
| SOY | 2017-06-07 | [Corn, soybeans higher on weather concerns - Brownfield Ag News](https://feedsoft.ai/events/70428-corn-soybeans-higher-on-weather-concerns-brownfield-ag-news.md) | +1.0% | +5.7% |
| SOY | 2017-05-01 | [Weather woes support corn, soybeans, wheat - Brownfield Ag News](https://feedsoft.ai/events/10482-weather-woes-support-corn-soybeans-wheat-brownfield-ag-news.md) | +1.9% | -2.0% |
| SOY | 2016-04-20 | [Soybeans surge again - Brownfield Ag News](https://feedsoft.ai/events/7723-soybeans-surge-again-brownfield-ag-news.md) | +3.3% | +9.6% |
| CORN | 2017-04-28 | [Wheat supported by weather concerns - Brownfield Ag News](https://feedsoft.ai/events/71544-wheat-supported-by-weather-concerns-brownfield-ag-news.md) | -0.2% | +2.7% |
| CORN | 2023-08-15 | [Soybeans down despite dry weather concerns - Brownfield Ag News](https://feedsoft.ai/events/5617-soybeans-down-despite-dry-weather-concerns-brownfield-ag-news.md) | -0.9% | -1.3% |
| CORN | 2018-12-17 | [Soybeans bounce back a bit - Brownfield Ag News](https://feedsoft.ai/events/7514-soybeans-bounce-back-a-bit-brownfield-ag-news.md) | +0.4% | +0.3% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-supported-by-demand-damage-concerns/

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