# U.S. grains: Soybean, soyoil futures slide on weak demand - AgCanada

> U.S. soybean futures fell about 1.4% on January 25, 2024, as weak export demand and strong competition from Brazil weighed on prices. USDA reported weekly export sales of 560,900 metric tons, below trade expectations. Soybean oil also tumbled on reduced demand from renewable diesel plants and food makers.

- Date: 2024-01-25 · published 2024-01-25T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/6835-u-s-grains-soybean-soyoil-futures-slide-on-weak-demand-agcanada
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weak export sales and softer domestic oil demand signal that U.S. soybeans are losing share to cheaper Brazilian supply, which pressures soybean and soyoil prices. Lower soyoil also reduces the value of the crush, weighing on meal supply economics.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2024-01-29 | 1 | -4.5% | -4.7 | Weak renewable diesel and food-maker demand for soyoil, plus soft export sales, built bearish sentiment ahead of the Jan 29 drop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-02-01 | [U.S. grains: Soybeans fall on weak exports, bumper Brazil harvest - AgCanada](https://feedsoft.ai/events/66531-u-s-grains-soybeans-fall-on-weak-exports-bumper-brazil-harvest-agcanada.md) | -1.3% | +6.2% |
| SOY | 2025-07-25 | [U.S. grains: Chicago wheat futures dip on global supply pressure; corn, soybeans fall - AgCanada](https://feedsoft.ai/events/23793-u-s-grains-chicago-wheat-futures-dip-on-global-supply-pressure-corn-soybeans.md) | -4.2% | +3.0% |
| SOY | 2024-02-01 | [U.S. grains: Soybeans slide on disappointing US export data; corn also down - AgCanada](https://feedsoft.ai/events/31703-u-s-grains-soybeans-slide-on-disappointing-us-export-data-corn-also-down.md) | -2.7% | -7.7% |
| SOY | 2021-07-13 | [Global Soybean Trade Slows on Weaker China Demand \| Feed & Grain](https://feedsoft.ai/events/46110-global-soybean-trade-slows-on-weaker-china-demand-feed-and-grain.md) | -0.3% | +0.1% |
| SOY | 2018-06-13 | [U.S. grains: CBOT wheat, soybeans post sharp losses - AgCanada](https://feedsoft.ai/events/8249-u-s-grains-cbot-wheat-soybeans-post-sharp-losses-agcanada.md) | -6.8% | -13.0% |
| SBO | 2024-07-24 | [ICE Canada Weekly: Attention on canola to soon turn from yields to demand - Grainews](https://feedsoft.ai/events/12830-ice-canada-weekly-attention-on-canola-to-soon-turn-from-yields-to-demand.md) | -3.6% | -7.7% |
| SBO | 2024-01-30 | [China Witnesses Decline in Soyoil and Meal Futures Amidst Demand Slowdown](https://feedsoft.ai/events/6840-china-witnesses-decline-in-soyoil-and-meal-futures-amidst-demand-slowdown.md) | +0.0% | -1.4% |
| SBO | 2016-10-27 | [U.S. grains: Soybeans rise on export sales, soymeal gains - Grainews](https://feedsoft.ai/events/9239-u-s-grains-soybeans-rise-on-export-sales-soymeal-gains-grainews.md) | -2.1% | +2.6% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-soybean-soyoil-futures-slide-on-weak-demand

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