# Soyabean surge on CBOT sows hopes of higher oilseed crop in India - The HinduBusinessLine

> Soybean prices in Chicago surged to a near seven-year high of $14.44 a bushel on March 8, 2021, due to excess rain in Brazil and dryness in Argentina. Indian soybean prices in Madhya Pradesh were trading above the government minimum support price.

- Date: 2021-03-10 · published 2021-03-10T12:00:00.000Z
- Category: weather · region India · magnitude medium
- Page: https://feedsoft.ai/events/6560-soyabean-surge-on-cbot-sows-hopes-of-higher-oilseed-crop-in-india-the
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

South America produces nearly half of global soybeans, so the supply problems support world soybean and meal prices. Higher prices may also encourage Indian farmers to expand oilseed acreage later in the year.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-04-22 | [Data show tight supplies, not speculation, driving soyabean prices - The HinduBusinessLine](https://feedsoft.ai/events/47625-data-show-tight-supplies-not-speculation-driving-soyabean-prices-the.md) | +4.0% | +2.7% |
| SOY | 2020-07-11 | [CBOT soyabean futures higher - Markets - Business Recorder](https://feedsoft.ai/events/11496-cbot-soyabean-futures-higher-markets-business-recorder.md) | +0.7% | -2.4% |
| SOY | 2021-01-04 | [La Nina to take hold of agri markets in 2021  - The HinduBusinessLine](https://feedsoft.ai/events/5000-la-nina-to-take-hold-of-agri-markets-in-2021-the-hindubusinessline.md) | +4.6% | +3.8% |
| SOY | 2022-07-31 | [CBOT soyabean futures rally - Markets - Business Recorder](https://feedsoft.ai/events/40515-cbot-soyabean-futures-rally-markets-business-recorder.md) | -1.4% | -1.9% |
| SOY | 2018-02-14 | [eFeedLink - China, ASEAN and India: Can we see the next feed crop rally from here?](https://feedsoft.ai/events/10008-efeedlink-china-asean-and-india-can-we-see-the-next-feed-crop-rally-from-here.md) | +2.2% | +1.7% |
| SBM | 2026-03-20 | [Chicken prices soar in India on bird mortality, reduced weight  - The HinduBusinessLine](https://feedsoft.ai/events/20308-chicken-prices-soar-in-india-on-bird-mortality-reduced-weight-the.md) | -1.6% | +0.3% |
| SBM | 2021-04-22 | [Data show tight supplies, not speculation, driving soyabean prices - The HinduBusinessLine](https://feedsoft.ai/events/47625-data-show-tight-supplies-not-speculation-driving-soyabean-prices-the.md) | +2.3% | -1.7% |
| SBM | 2020-07-11 | [CBOT soyabean futures higher - Markets - Business Recorder](https://feedsoft.ai/events/11496-cbot-soyabean-futures-higher-markets-business-recorder.md) | -1.5% | -3.7% |

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/economy/agri-business/soyabean-surge-on-cbot-sows-hopes-of-higher-oilseed-crop-in-india/article34033180.ece

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