# Soybeans down despite dry weather concerns - Brownfield Ag News

> Soybeans fell on August 15, 2023, on profit taking and technical selling despite a higher USDA good-to-excellent rating. Forecasts called for a return to hot, dry weather in parts of the Midwest. NOPA reported a larger-than-expected July crush of 173.3 mbu.

- Date: 2023-08-15 · published 2023-08-15T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/5617-soybeans-down-despite-dry-weather-concerns-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Expected heat could stress soybeans during key development phases and lower yields, which is supportive for prices. Strong crush demand and margins also support soybeans, but the near-term price effect was offset by selling.

## Read by commodity

- SBO: bullish ▲
- SOY: neutral
- CORN: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-04-28 | [Wheat supported by weather concerns - Brownfield Ag News](https://feedsoft.ai/events/71544-wheat-supported-by-weather-concerns-brownfield-ag-news.md) | +2.1% | -0.7% |
| SOY | 2020-10-06 | [Dry, milder weather across the Heartland - Brownfield Ag News](https://feedsoft.ai/events/50498-dry-milder-weather-across-the-heartland-brownfield-ag-news.md) | +1.2% | +2.9% |
| SOY | 2017-05-15 | [Warmer, drier weather settles across the Corn Belt - Brownfield Ag News](https://feedsoft.ai/events/70858-warmer-drier-weather-settles-across-the-corn-belt-brownfield-ag-news.md) | -0.1% | -2.4% |
| SOY | 2024-04-15 | [Weather a driver for the grain markets - Brownfield Ag News](https://feedsoft.ai/events/13196-weather-a-driver-for-the-grain-markets-brownfield-ag-news.md) | -2.0% | +2.6% |
| SOY | 2017-12-04 | [Minnesota soybean agronomist will remember 2017 weather extremes - Brownfield Ag News](https://feedsoft.ai/events/67338-minnesota-soybean-agronomist-will-remember-2017-weather-extremes-brownfield-ag.md) | -0.5% | -3.9% |
| CORN | 2017-04-28 | [Wheat supported by weather concerns - Brownfield Ag News](https://feedsoft.ai/events/71544-wheat-supported-by-weather-concerns-brownfield-ag-news.md) | -0.2% | +2.7% |
| CORN | 2020-08-28 | [Soybeans supported by demand, damage concerns - Brownfield Ag News](https://feedsoft.ai/events/51651-soybeans-supported-by-demand-damage-concerns-brownfield-ag-news.md) | +0.0% | +5.4% |
| CORN | 2018-12-17 | [Soybeans bounce back a bit - Brownfield Ag News](https://feedsoft.ai/events/7514-soybeans-bounce-back-a-bit-brownfield-ag-news.md) | +0.4% | +0.3% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-down-despite-dry-weather-concerns-2/

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