# Ahead of the Open | January 4, 2022 - Pro Farmer

> Soybean futures were expected to extend gains as dry conditions in South America threatened yields, with corn and wheat also firmer overnight. Consultant Michael Cordonnier cut Brazil's soybean crop estimate by 2 MMT to 138 MMT and Argentina's by 3 MMT to 45 MMT. Several Brazilian states declared drought or flooding emergencies, and Malaysian palm oil rose to a four-week high on flooding.

- Date: 2022-01-04 · published 2022-01-04T12:00:00.000Z
- Category: weather · region South America · magnitude high
- Page: https://feedsoft.ai/events/5775-ahead-of-the-open-january-4-2022-pro-farmer
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Cuts to Brazilian and Argentine soybean and corn estimates tighten global supplies, supporting feed prices. Palm oil strength on flooding supports vegetable oil prices.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-05-02 | [Ahead of the Open \| May 2, 2024 - Pro Farmer](https://feedsoft.ai/events/5412-ahead-of-the-open-may-2-2024-pro-farmer.md) | +4.9% | +4.7% |
| SOY | 2023-10-24 | [Ahead of the Open \| October 24, 2023 - Pro Farmer](https://feedsoft.ai/events/10316-ahead-of-the-open-october-24-2023-pro-farmer.md) | -0.3% | +6.3% |
| SOY | 2022-01-05 | [After the Bell \| January 5, 2022 - Pro Farmer](https://feedsoft.ai/events/5771-after-the-bell-january-5-2022-pro-farmer.md) | -0.1% | +12.1% |
| SOY | 2022-02-01 | [After the Bell \| February 1, 2022 - Pro Farmer](https://feedsoft.ai/events/12635-after-the-bell-february-1-2022-pro-farmer.md) | +6.1% | +14.4% |
| SOY | 2022-07-29 | [After the Bell \| July 29, 2022 - Pro Farmer](https://feedsoft.ai/events/8746-after-the-bell-july-29-2022-pro-farmer.md) | +0.4% | -3.5% |
| CORN | 2024-05-02 | [Ahead of the Open \| May 2, 2024 - Pro Farmer](https://feedsoft.ai/events/5412-ahead-of-the-open-may-2-2024-pro-farmer.md) | +0.9% | +5.7% |
| CORN | 2022-02-01 | [After the Bell \| February 1, 2022 - Pro Farmer](https://feedsoft.ai/events/12635-after-the-bell-february-1-2022-pro-farmer.md) | +1.8% | +11.1% |
| CORN | 2022-07-29 | [After the Bell \| July 29, 2022 - Pro Farmer](https://feedsoft.ai/events/8746-after-the-bell-july-29-2022-pro-farmer.md) | +2.4% | +3.2% |

## Sources

- profarmer.com: https://www.profarmer.com/news/ahead-open/ahead-open-january-4-2022

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