# Soybeans edge higher, set for weekly gain of nearly 3% | Financial Post

> U.S. soybean futures edged higher and were set for a weekly gain of nearly 3% after USDA cut its 2019-20 soybean production estimate to 3.845 billion bushels from 4.150 billion, with yield lowered to 48.5 bushels per acre. USDA also cut world and Russian, EU, Australian and Canadian wheat production and lowered global wheat ending stocks.

- Date: 2019-07-12 · published 2019-07-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/58046-soybeans-edge-higher-set-for-weekly-gain-of-nearly-3-financial-post
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

A sharply smaller U.S. soybean crop and tighter wheat stocks support soybean, meal and wheat prices, with soybean meal benefiting from reduced crush supply.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-10-12 | [Soybeans rally after USDA cuts U.S. harvest outlook \| Financial Post](https://feedsoft.ai/events/39163-soybeans-rally-after-usda-cuts-u-s-harvest-outlook-financial-post.md) | -0.3% | +4.9% |
| SOY | 2017-09-29 | [Soybeans edge higher on reports \| Feedstuffs](https://feedsoft.ai/events/68897-soybeans-edge-higher-on-reports-feedstuffs.md) | +0.9% | +1.2% |
| SOY | 2021-05-12 | [Soybeans Surge Near 9-Year High \| Feed & Grain](https://feedsoft.ai/events/11984-soybeans-surge-near-9-year-high-feed-and-grain.md) | -3.9% | -4.6% |
| SOY | 2022-06-30 | [Soybeans rebound after USDA pegs U.S. acres below expectations \| Financial Post](https://feedsoft.ai/events/40972-soybeans-rebound-after-usda-pegs-u-s-acres-below-expectations-financial-post.md) | -5.0% | -3.9% |
| SOY | 2020-09-30 | [Corn, soy, wheat surge on lower-than-expected U.S. grain stocks \| Financial Post](https://feedsoft.ai/events/8786-corn-soy-wheat-surge-on-lower-than-expected-u-s-grain-stocks-financial-post.md) | +5.1% | +9.0% |
| SBM | 2022-10-12 | [Soybeans rally after USDA cuts U.S. harvest outlook \| Financial Post](https://feedsoft.ai/events/39163-soybeans-rally-after-usda-cuts-u-s-harvest-outlook-financial-post.md) | -1.2% | +1.9% |
| SBM | 2021-05-12 | [Soybeans Surge Near 9-Year High \| Feed & Grain](https://feedsoft.ai/events/11984-soybeans-surge-near-9-year-high-feed-and-grain.md) | -7.7% | -12.5% |
| SBM | 2022-06-30 | [Soybeans rebound after USDA pegs U.S. acres below expectations \| Financial Post](https://feedsoft.ai/events/40972-soybeans-rebound-after-usda-pegs-u-s-acres-below-expectations-financial-post.md) | -0.8% | +4.4% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/soybeans-edge-higher-set-for-weekly-gain-of-nearly-3

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