# As soybean futures fall, farmer says tariffs have devastated industry

> US soybean futures fell more than 4.5% on August 10 after USDA projected 2018-19 US soybean production at 4.586 billion bushels, above market forecasts. Ohio farmer Chris Gibbs said the trade war had cut prices about 20% and cost the US its largest customer. The day's drop was the worst since the July low.

- Date: 2018-08-10 · published 2018-08-10T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/63571-as-soybean-futures-fall-farmer-says-tariffs-have-devastated-industry
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A larger-than-expected USDA crop estimate adds supply pressure to soybeans and soymeal, lowering feed protein costs while trade disruption limits export outlets.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2018-08-09 | 1 | -4.7% | -3.5 | It documents the over 4.5% soybean drop on August 10 after USDA's above-forecast production projection, matching the move's size and timing. |
| SBM | 2018-08-09 | 1 | -3.1% | -3.0 | Soybean futures fell more than 4.5% on the above-forecast production projection, a worse drop than any since the July low, which carried soymeal lower. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-07-12 | [Soybean Prices Near Decade-Low as China Tariffs Hammer Supply Forecast](https://feedsoft.ai/events/63999-soybean-prices-near-decade-low-as-china-tariffs-hammer-supply-forecast.md) | +1.5% | +7.7% |
| SOY | 2023-12-08 | [U.S. grains: CBOT grain, soybean futures tumble after monthly USDA data \| Farmtario](https://feedsoft.ai/events/32635-u-s-grains-cbot-grain-soybean-futures-tumble-after-monthly-usda-data-farmtario.md) | +0.2% | -5.5% |
| SOY | 2020-06-30 | [Declines in 2020 Corn and Soybeans Harvest-time Futures Contracts in Perspective - farmdoc daily](https://feedsoft.ai/events/52655-declines-in-2020-corn-and-soybeans-harvest-time-futures-contracts-in.md) | +3.3% | +3.5% |
| SOY | 2023-08-12 | [U.S. grains: Soybean, grains futures drop as traders shed risk - AgCanada](https://feedsoft.ai/events/5618-u-s-grains-soybean-grains-futures-drop-as-traders-shed-risk-agcanada.md) | -2.7% | -3.5% |
| SOY | 2017-02-10 | [Soybean and Wheat Futures Affected by February Report \| Hoosier Ag Today](https://feedsoft.ai/events/72448-soybean-and-wheat-futures-affected-by-february-report-hoosier-ag-today.md) | -0.6% | -5.2% |
| SBM | 2025-03-14 | [Higher Argentine soybean exports says USDA attaché \| Farmtario](https://feedsoft.ai/events/13873-higher-argentine-soybean-exports-says-usda-attache-farmtario.md) | -0.8% | -0.2% |
| SBM | 2020-05-26 | [Soybean prices expected to fall despite growing demand \| Feed Strategy](https://feedsoft.ai/events/53461-soybean-prices-expected-to-fall-despite-growing-demand-feed-strategy.md) | -0.4% | +0.8% |
| SBM | 2017-03-31 | [Soybeans Trumping Corn in 18 States \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/72026-soybeans-trumping-corn-in-18-states-farm-bureau-intel-markets-american-farm.md) | -2.0% | -1.0% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/08/10/as-soybean-futures-fall-farmer-says-tariffs-have-devastated-industry.html

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