# Soybean prices on pace for best monthly performance since 2016

> US soybean prices are on pace for their best monthly performance since 2016, with futures rising about 8% in December. Chinese Vice-Premier Liu He was set to lead a delegation to Washington to sign the first phase of a trade deal that includes a pledge to buy as much as $50 billion in US farm goods. Broader commodities also gained on weather problems and a weaker dollar.

- Date: 2019-12-30 · published 2019-12-30T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/55627-soybean-prices-on-pace-for-best-monthly-performance-since-2016
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Anticipated Chinese purchases and a weaker dollar support soybean and meal prices, which lifts feed input costs for buyers.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-12-26 | [U.S. soybean futures reach highest price since June 2018 \| Financial Post](https://feedsoft.ai/events/55626-u-s-soybean-futures-reach-highest-price-since-june-2018-financial-post.md) | +0.8% | -3.7% |
| SOY | 2022-06-10 | [Soybeans set for biggest weekly gain in 2 months on strong demand \| Financial Post](https://feedsoft.ai/events/40974-soybeans-set-for-biggest-weekly-gain-in-2-months-on-strong-demand-financial-post.md) | -3.4% | -7.2% |
| SOY | 2024-07-03 | [China poised for record July soybean imports on low prices](https://feedsoft.ai/events/14735-china-poised-for-record-july-soybean-imports-on-low-prices.md) | -2.0% | -11.7% |
| 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 | 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% |
| SBM | 2019-12-26 | [U.S. soybean futures reach highest price since June 2018 \| Financial Post](https://feedsoft.ai/events/55626-u-s-soybean-futures-reach-highest-price-since-june-2018-financial-post.md) | -0.4% | -1.2% |
| SBM | 2024-07-03 | [China poised for record July soybean imports on low prices](https://feedsoft.ai/events/14735-china-poised-for-record-july-soybean-imports-on-low-prices.md) | +1.3% | -3.9% |
| SBM | 2026-07-21 | [Global demand for soybean meal drives prices up in Brazil and the U.S.](https://feedsoft.ai/events/18436-global-demand-for-soybean-meal-drives-prices-up-in-brazil-and-the-u-s.md) | -0.7% | -2.6% |

## Sources

- farmprogress.com: https://www.farmprogress.com/business/soybean-prices-on-pace-for-best-monthly-performance-since-2016

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