# U.S. soybean futures reach highest price since June 2018 | Financial Post

> The most-active CBOT soybean futures contract touched its highest price since June 2018 on Thursday, driven by short covering and hopes of increased Chinese purchases. Details on the timing and size of Chinese buying under the Phase 1 trade deal remain unknown, and some analysts doubt China will reach the $40-50 billion purchase target. Strength in Malaysian palm oil also supported soy, while favorable South American weather limited gains.

- Date: 2019-12-26 · published 2019-12-26T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/55626-u-s-soybean-futures-reach-highest-price-since-june-2018-financial-post
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Expected Chinese buying under the Phase 1 deal lifts US soybean prices, which raises the cost of soybean meal feed inputs, though doubts about volume cap the rally.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-08-14 | [Soybean prices rise on U.S.-China trade hopes \| Financial Post](https://feedsoft.ai/events/11472-soybean-prices-rise-on-u-s-china-trade-hopes-financial-post.md) | -1.9% | -2.1% |
| SOY | 2026-03-13 | [Chicago soybean futures hit their highest since mid-2024](https://feedsoft.ai/events/20356-chicago-soybean-futures-hit-their-highest-since-mid-2024.md) | -3.7% | -3.1% |
| SOY | 2020-10-22 | [U.S. soy futures firm to highest since 2016, corn hits 14-1/2-month high](https://feedsoft.ai/events/5719-u-s-soy-futures-firm-to-highest-since-2016-corn-hits-14-1-2-month-high.md) | -1.4% | +9.7% |
| SOY | 2020-08-03 | [U.S. wheat futures fall on U.S. export woes; corn, soybeans firm \| Financial Post](https://feedsoft.ai/events/51658-u-s-wheat-futures-fall-on-u-s-export-woes-corn-soybeans-firm-financial-post.md) | -3.0% | +5.9% |
| SOY | 2021-02-12 | [Brazil's slow soybean harvest widens U.S. export window \| Financial Post](https://feedsoft.ai/events/48690-brazil-s-slow-soybean-harvest-widens-u-s-export-window-financial-post.md) | +0.7% | +3.5% |
| SBM | 2019-12-30 | [Soybean prices on pace for best monthly performance since 2016](https://feedsoft.ai/events/55627-soybean-prices-on-pace-for-best-monthly-performance-since-2016.md) | +0.8% | +0.7% |
| SBM | 2018-07-27 | [Soybean Futures Close Higher on Signs of Demand](https://feedsoft.ai/events/64076-soybean-futures-close-higher-on-signs-of-demand.md) | +0.1% | -5.7% |
| SBM | 2019-10-03 | [Soybean Futures Bounce Back After China Restarts Purchases](https://feedsoft.ai/events/56615-soybean-futures-bounce-back-after-china-restarts-purchases.md) | +1.7% | +0.6% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/u-s-soybean-futures-reach-highest-price-since-june-2018

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