# U.S. grains: Soy falls below US$9 on South America weather, trade doubts - AgCanada

> Chicago January soybean futures closed below $9 a bushel on Nov 22, 2019, the first time since September, as improving weather in Brazil and Argentina weighed on prices. Wheat settled higher on short-covering while corn was mixed. Traders also doubted that a first-stage US-China trade deal would be signed soon.

- Date: 2019-11-23 · published 2019-11-23T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/56099-u-s-grains-soy-falls-below-us-9-on-south-america-weather-trade-doubts-agcanada
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Expected South American rains and delayed China purchases reduce near-term demand for US soybeans and meal, pressuring soybean prices and feed protein costs.

## Read by commodity

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

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-soy-falls-below-us9-on-south-america-weather-trade-doubts

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