# Soybean prices rally as P.E.I. farmers prepare to plant

> Prince Edward Island farmers rushed to sign soybean contracts after flooding in Argentina reportedly destroyed 1.4 million hectares of soybeans. Soybean prices peaked near C$450 per tonne, up from C$360 in December.

- Date: 2016-05-12 · published 2016-05-12T12:00:00.000Z
- Category: weather · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/6525-soybean-prices-rally-as-p-e-i-farmers-prepare-to-plant
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Argentine crop losses tighten global soybean supply and lift export-linked prices, so Canadian growers can lock in higher prices at harvest.

## Read by commodity

- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-08-27 | [Parched soybean fields fuel price rally](https://feedsoft.ai/events/51454-parched-soybean-fields-fuel-price-rally.md) | +4.7% | +8.8% |
| SOY | 2021-05-07 | [Iowa farmers wary as drought deepens even with corn, soybean prices up](https://feedsoft.ai/events/46944-iowa-farmers-wary-as-drought-deepens-even-with-corn-soybean-prices-up.md) | +0.4% | -1.4% |
| SOY | 2023-11-21 | [Brazilian Farmers Still have 30% of Their Soybeans to Plant - AgWeb](https://feedsoft.ai/events/13612-brazilian-farmers-still-have-30-of-their-soybeans-to-plant-agweb.md) | -1.5% | -4.0% |
| SOY | 2019-11-01 | [Harvest Slogs Onward as Farmers Start to Prepare for 2020](https://feedsoft.ai/events/55890-harvest-slogs-onward-as-farmers-start-to-prepare-for-2020.md) | +0.9% | -4.4% |
| SOY | 2022-02-25 | [Soybean Prices Rise as Drought in South America Reduces Harvest - farmdoc daily](https://feedsoft.ai/events/42625-soybean-prices-rise-as-drought-in-south-america-reduces-harvest-farmdoc-daily.md) | +1.1% | +2.4% |

## Sources

- cbc.ca: https://www.cbc.ca/news/canada/prince-edward-island/soybean-prices-rally-as-p-e-i-farmers-prepare-to-plant-1.3579160

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