# Soybean, corn futures rebound - Brownfield Ag News

> Soybean and corn futures rebounded on short covering and technical buying after being oversold, with dry weather concerns in parts of the Midwest. China's July soybean purchases were 8.64 million tons, and its National Grain and Oils Information Center cut its 2019/20 soybean import estimate by 2 million tons to 87 million.

- Date: 2019-08-08 · published 2019-08-08T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/57655-soybean-corn-futures-rebound-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Short-covering bounces offset weak fundamentals, but the cut in China's import estimate is bearish for US soybean demand. Dry weather risk supports prices until the August USDA report.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybean-corn-futures-rebound/

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