# Corn, soybeans touch new multi-year lows on grain glut worries  - The Globe and Mail

> Chicago corn fell to a three-year low and soybeans touched their lowest since December 2020 on February 7, 2024. Forecast rain in Argentina and Brazil eased dry-weather concerns and added to expectations of large South American supplies.

- Date: 2024-02-07 · published 2024-02-07T12:00:00.000Z
- Category: weather · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/7198-corn-soybeans-touch-new-multi-year-lows-on-grain-glut-worries-the-globe-and-mail
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Improved South American crop prospects point to a global grain glut, which keeps pressure on corn and soybean prices until supply forecasts change.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-01-18 | [U.S. grains: Soy, corn futures end higher after setting multi-year lows - AgCanada](https://feedsoft.ai/events/11443-u-s-grains-soy-corn-futures-end-higher-after-setting-multi-year-lows-agcanada.md) | +1.1% | -5.6% |
| CORN | 2018-06-11 | [Rain in much of Midwest sends soybeans, corn lower - Brownfield Ag News](https://feedsoft.ai/events/8247-rain-in-much-of-midwest-sends-soybeans-corn-lower-brownfield-ag-news.md) | -3.5% | -5.6% |
| CORN | 2025-06-26 | [U.S. grains: Chicago corn, soy linger at multi-month lows as weather weighs - Grainews](https://feedsoft.ai/events/24226-u-s-grains-chicago-corn-soy-linger-at-multi-month-lows-as-weather-weighs.md) | +4.6% | -1.5% |
| CORN | 2016-08-25 | [U.S. grains: Soybeans sag to near two-week low as crop impresses scouts - Grainews](https://feedsoft.ai/events/12394-u-s-grains-soybeans-sag-to-near-two-week-low-as-crop-impresses-scouts-grainews.md) | -7.5% | -0.6% |
| CORN | 2024-01-29 | [U.S. grains: Soy hits 2-yr lows on South American crop prospects, demand worries - Manitoba Co-operator](https://feedsoft.ai/events/6842-u-s-grains-soy-hits-2-yr-lows-on-south-american-crop-prospects-demand-worries.md) | -0.7% | -7.2% |
| SOY | 2024-01-18 | [U.S. grains: Soy, corn futures end higher after setting multi-year lows - AgCanada](https://feedsoft.ai/events/11443-u-s-grains-soy-corn-futures-end-higher-after-setting-multi-year-lows-agcanada.md) | +2.9% | -2.9% |
| SOY | 2018-06-11 | [Rain in much of Midwest sends soybeans, corn lower - Brownfield Ag News](https://feedsoft.ai/events/8247-rain-in-much-of-midwest-sends-soybeans-corn-lower-brownfield-ag-news.md) | -6.6% | -12.1% |
| SOY | 2025-06-26 | [U.S. grains: Chicago corn, soy linger at multi-month lows as weather weighs - Grainews](https://feedsoft.ai/events/24226-u-s-grains-chicago-corn-soy-linger-at-multi-month-lows-as-weather-weighs.md) | +2.5% | -2.0% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/business/international-business/article-soybeans-chicago-corn-hit-new-multi-year-lows-on-grain-glut-worries/

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