# Soybeans drop 2% on U.S. crop forecast, weather; corn, wheat down 16.08.2022 - UkrAgroConsult

> Chicago soybeans fell more than 2% after a USDA report raised U.S. soybean production and yield to record highs despite a lower acreage estimate. Corn and wheat each lost more than 1%. Traders also saw cooler, wetter weather as bearish.

- Date: 2022-08-16 · published 2022-08-16T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/6532-soybeans-drop-2-on-u-s-crop-forecast-weather-corn-wheat-down-16-08-2022
- 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

A larger-than-expected U.S. soybean crop increases exportable supply and pressures soybean and soymeal prices. Improved yields reduce the need for imports and lower feed costs for buyers.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-03-09 | [Soybeans close lower. Wednesday, March 9, 2022 10.03.2022 - UkrAgroConsult](https://feedsoft.ai/events/42239-soybeans-close-lower-wednesday-march-9-2022-10-03-2022-ukragroconsult.md) | -2.7% | -4.3% |
| SOY | 2025-02-27 | [USDA Forecasts Record Corn Crop, Larger Soybean Crop for 2025-26](https://feedsoft.ai/events/13114-usda-forecasts-record-corn-crop-larger-soybean-crop-for-2025-26.md) | -2.6% | -2.3% |
| SOY | 2021-02-19 | [Outlook Forecasts Larger Corn, Soybean Crops for 2021](https://feedsoft.ai/events/48482-outlook-forecasts-larger-corn-soybean-crops-for-2021.md) | +2.3% | +1.3% |
| SOY | 2024-08-22 | [Record US soybean crop forecast in 2024 \| World Grain](https://feedsoft.ai/events/28788-record-us-soybean-crop-forecast-in-2024-world-grain.md) | -0.5% | +5.2% |
| SOY | 2016-08-15 | [USDA adjusts forecasts based on record corn, soybean crops](https://feedsoft.ai/events/9949-usda-adjusts-forecasts-based-on-record-corn-soybean-crops.md) | +2.4% | -1.9% |
| CORN | 2022-01-13 | [Wheat Drops With U.S. Forecasting Bigger Global Reserves 13.01.2022 - UkrAgroConsult](https://feedsoft.ai/events/43104-wheat-drops-with-u-s-forecasting-bigger-global-reserves-13-01-2022.md) | -1.3% | +5.3% |
| CORN | 2022-01-28 | [EU cuts 2021/22 wheat crop forecast, keeps export outlook 28.01.2022 - UkrAgroConsult](https://feedsoft.ai/events/43077-eu-cuts-2021-22-wheat-crop-forecast-keeps-export-outlook-28-01-2022.md) | +1.3% | +11.5% |
| CORN | 2021-06-11 | [Strategie Grains raises EU 2021/22 wheat crop, export forecasts - UkrAgroConsult](https://feedsoft.ai/events/46522-strategie-grains-raises-eu-2021-22-wheat-crop-export-forecasts-ukragroconsult.md) | -6.1% | -4.6% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/soybeans-drop-2-on-u-s-crop-forecast-weather-corn-wheat-down/

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