# Soy dives on China's economic uncertainty | Financial Post

> Chicago soybeans fell more than 3.5% on Monday after weaker-than-expected Chinese economic data suggested lower demand for U.S. farm goods. The People's Bank of China cut key interest rates, raising global recession concerns. Corn and wheat also declined.

- Date: 2022-08-15 · published 2022-08-15T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/6526-soy-dives-on-china-s-economic-uncertainty-financial-post
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Signs of weaker Chinese demand, the largest buyer of U.S. soybeans, pressure export expectations and futures prices. Forecasts of rain for parched U.S. crops added to the downward pressure.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2022-08-14 | 1 | -10.5% | -5.2 | Weak Chinese economic data and the PBOC rate cut raised recession and lower-demand fears, driving a sharp drop in Chicago soybeans on Monday. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-05-13 | [Dollar up as Powell downplays chances of negative U.S. interest rates \| Financial Post](https://feedsoft.ai/events/53332-dollar-up-as-powell-downplays-chances-of-negative-u-s-interest-rates-financial.md) | -0.8% | +1.9% |
| SOY | 2023-01-17 | [China's 2022 economic growth one of the worst on record, post-pandemic policy faces test \| Reuters](https://feedsoft.ai/events/37986-china-s-2022-economic-growth-one-of-the-worst-on-record-post-pandemic-policy.md) | -3.1% | +0.3% |
| SOY | 2022-04-21 | [China's yuan slides to 6-month low as tightening prospects help dollar \| Financial Post](https://feedsoft.ai/events/7337-china-s-yuan-slides-to-6-month-low-as-tightening-prospects-help-dollar.md) | -1.2% | -4.8% |
| SOY | 2023-01-20 | [Brazil's real set for 2% weekly loss on worries over c.bank independence \| Financial Post](https://feedsoft.ai/events/37979-brazil-s-real-set-for-2-weekly-loss-on-worries-over-c-bank-independence.md) | +0.6% | +0.8% |
| SOY | 2020-03-09 | [Corn, soybeans, wheat drop about 2% as global markets recoil \| Financial Post](https://feedsoft.ai/events/11269-corn-soybeans-wheat-drop-about-2-as-global-markets-recoil-financial-post.md) | -4.1% | -3.3% |
| CORN | 2020-05-13 | [Dollar up as Powell downplays chances of negative U.S. interest rates \| Financial Post](https://feedsoft.ai/events/53332-dollar-up-as-powell-downplays-chances-of-negative-u-s-interest-rates-financial.md) | -0.3% | +1.5% |
| CORN | 2023-01-17 | [China's 2022 economic growth one of the worst on record, post-pandemic policy faces test \| Reuters](https://feedsoft.ai/events/37986-china-s-2022-economic-growth-one-of-the-worst-on-record-post-pandemic-policy.md) | -1.8% | +0.1% |
| CORN | 2021-09-23 | [Gold prices ease as dollar firms on Fed rate hike comments \| Financial Post](https://feedsoft.ai/events/44965-gold-prices-ease-as-dollar-firms-on-fed-rate-hike-comments-financial-post.md) | +1.3% | +2.0% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/soy-dives-on-chinas-economic-uncertainty

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