# Soy edges toward 21-month high as supplies tighten - Agweek | #1 source for agriculture news, farming, markets

> U.S. soybean futures edged toward the prior session's 21-month high after USDA forecast lower world supplies. The Chicago most-active contract rose about 5% the previous day following the report, which cut Argentine and Brazilian output estimates.

- Date: 2016-05-11 · published 2016-05-11T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6521-soy-edges-toward-21-month-high-as-supplies-tighten-agweek-1-source-for
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Reduced South American supply forecasts keep soybean and soymeal prices supported, which raises feed ingredient costs.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2016-05-09 | [USDA slashes soy supply view; prices surge - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/6519-usda-slashes-soy-supply-view-prices-surge-agweek-1-source-for-agriculture-news.md) | +2.8% | +10.9% |
| SOY | 2017-10-15 | [WASDE Report surprises soybean market - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/68415-wasde-report-surprises-soybean-market-agweek-1-source-for-agriculture-news.md) | -2.1% | -2.3% |
| SOY | 2023-01-12 | [U.S. reduces corn, soybean harvest views - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/13310-u-s-reduces-corn-soybean-harvest-views-agweek-1-source-for-agriculture-news.md) | -0.0% | +0.3% |
| SOY | 2017-01-22 | [Post-USDA report fallout in markets - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/72940-post-usda-report-fallout-in-markets-agweek-1-source-for-agriculture-news.md) | -1.7% | -3.3% |
| SOY | 2016-08-16 | [Soy steady near three-week top as exports offset output forecast - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/11870-soy-steady-near-three-week-top-as-exports-offset-output-forecast-agweek-1.md) | +1.1% | -5.4% |
| SBM | 2016-05-09 | [USDA slashes soy supply view; prices surge - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/6519-usda-slashes-soy-supply-view-prices-surge-agweek-1-source-for-agriculture-news.md) | +5.8% | +20.7% |
| SBM | 2023-01-12 | [U.S. reduces corn, soybean harvest views - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/13310-u-s-reduces-corn-soybean-harvest-views-agweek-1-source-for-agriculture-news.md) | -4.3% | -4.2% |
| SBM | 2020-11-09 | [November WASDE has bullish surprises for soybeans, corn - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/50092-november-wasde-has-bullish-surprises-for-soybeans-corn-agweek-1-source-for.md) | +1.5% | +1.1% |

## Sources

- agweek.com: https://www.agweek.com/business/soy-edges-toward-21-month-high-as-supplies-tighten

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