# Soybeans: Probably led lower by the energy complex - OCBC - Forex Crunch

> INTL FCStone analyst Arlan Suderman said USDA cut its soybean export projection due to heavy Brazilian competition and slower Chinese demand. He said a strong dollar and weak Brazilian real make US beans hard to sell, with Brazilian beans 30 to 40 cents cheaper at Chinese ports.

- Date: 2020-04-21 · published 2020-04-21T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/53674-soybeans-probably-led-lower-by-the-energy-complex-ocbc-forex-crunch
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Currency-driven price gaps favor Brazilian beans, reducing US export demand and pressuring US soybean prices.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-06-25 | [The White House's Soybean Problem Is A Win For Renewable Energy Group (NYSE:CVX) \| Seeking Alpha](https://feedsoft.ai/events/64407-the-white-house-s-soybean-problem-is-a-win-for-renewable-energy-group-nyse-cvx.md) | -4.0% | -5.2% |
| SOY | 2026-03-16 | [After the Bell \| Limit down day in soybeans - Pro Farmer](https://feedsoft.ai/events/4717-after-the-bell-limit-down-day-in-soybeans-pro-farmer.md) | -4.1% | -4.0% |
| SOY | 2019-05-13 | [What Does the US Export to China? Soybeans Lowest in Decade - Bloomberg](https://feedsoft.ai/events/7754-what-does-the-us-export-to-china-soybeans-lowest-in-decade-bloomberg.md) | +3.1% | +7.7% |
| SOY | 2024-05-16 | [Soybeans, corn, wheat continue mostly lower trend - Brownfield Ag News](https://feedsoft.ai/events/10512-soybeans-corn-wheat-continue-mostly-lower-trend-brownfield-ag-news.md) | +2.7% | -2.0% |
| SOY | 2018-09-24 | [Corn, sorghum, soybean cash bids lower - High Plains Journal](https://feedsoft.ai/events/63093-corn-sorghum-soybean-cash-bids-lower-high-plains-journal.md) | -0.2% | +1.1% |
| DXY | 2018-09-18 | [Soybeans plumb two-month low, dollar regains footing](https://feedsoft.ai/events/63066-soybeans-plumb-two-month-low-dollar-regains-footing.md) | -0.3% | -0.0% |
| DXY | 2020-04-30 | [USD/JPY extends recovery gains above 107.00 as US Pres. Trump renews trade war fears - Forex Crunch](https://feedsoft.ai/events/53861-usd-jpy-extends-recovery-gains-above-107-00-as-us-pres-trump-renews-trade-war.md) | +0.7% | -1.4% |
| DXY | 2018-05-08 | [U.S.-China trade tensions press CBOT soybeans - Xinhua \| English.news.cn](https://feedsoft.ai/events/7885-u-s-china-trade-tensions-press-cbot-soybeans-xinhua-english-news-cn.md) | -0.1% | +1.5% |

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2020/04/21/soybeans-probably-led-lower-by-the-energy-complex-ocbc/

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