# U.S. grains: Soy up on prospects for Chinese demand - AgCanada

> US soybean futures rose on February 13, with the March contract settling up 3.75 cents at $8.96-1/4 for a ninth straight higher close, on hopes that China would step up purchases under the Phase One deal. Wheat and corn fell under a stronger dollar, coronavirus worries and expectations of large South American harvests.

- Date: 2020-02-13 · published 2020-02-13T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/54655-u-s-grains-soy-up-on-prospects-for-chinese-demand-agcanada
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of Chinese buying under Phase One support US soybean and meal prices, while a firmer dollar and larger South American crops weigh on corn and wheat.

## Read by commodity

- DXY: bullish ▲
- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-10-19 | [U.S. grains: Soy, wheat, corn firm on export demand - AgCanada](https://feedsoft.ai/events/68544-u-s-grains-soy-wheat-corn-firm-on-export-demand-agcanada.md) | -0.9% | -0.8% |
| SOY | 2019-10-23 | [Soybeans pare gains after surge on China demand prospects \| Financial Post](https://feedsoft.ai/events/56613-soybeans-pare-gains-after-surge-on-china-demand-prospects-financial-post.md) | -1.7% | -2.4% |
| SOY | 2023-03-29 | [U.S. grains: Wheat up on Cargill's Russia decision - AgCanada](https://feedsoft.ai/events/5080-u-s-grains-wheat-up-on-cargill-s-russia-decision-agcanada.md) | +3.4% | -2.2% |
| SOY | 2020-09-11 | [China maintains strong demand for U.S. corn, soy: USDA](https://feedsoft.ai/events/50982-china-maintains-strong-demand-for-u-s-corn-soy-usda.md) | +4.4% | +6.6% |
| SOY | 2021-04-13 | [China's Q1 soybean, grains imports surge on strong demand](https://feedsoft.ai/events/11178-china-s-q1-soybean-grains-imports-surge-on-strong-demand.md) | +4.9% | +17.2% |
| SBM | 2020-08-26 | [China’s demand for feed grains on the rise \| Feed Strategy](https://feedsoft.ai/events/51597-china-s-demand-for-feed-grains-on-the-rise-feed-strategy.md) | +3.8% | +17.3% |
| SBM | 2020-03-23 | [U.S. grains: Wheat jumps to one-month top - AgCanada](https://feedsoft.ai/events/6172-u-s-grains-wheat-jumps-to-one-month-top-agcanada.md) | -0.6% | -12.2% |
| SBM | 2020-06-30 | [Soybeans Spike on Chinese Demand, Record Huge Monthly Gain](https://feedsoft.ai/events/52676-soybeans-spike-on-chinese-demand-record-huge-monthly-gain.md) | +4.6% | +3.0% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-soy-up-on-prospects-for-chinese-demand

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