# U.S. grains: Soy falls as Brazil crop forecasts grow - AgCanada

> CBOT soybean futures fell 1% on February 3 on expectations of a huge Brazilian crop, with Brazil the world's top soybean exporter. Soft red winter wheat and corn also ended lower amid abundant global supplies and profit-taking. Wheat faced additional pressure from a benign weather outlook.

- Date: 2017-02-03 · published 2017-02-03T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/72537-u-s-grains-soy-falls-as-brazil-crop-forecasts-grow-agcanada
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Larger Brazilian soybean supplies increase export competition and add to a well-supplied world market, which pressures soybean, corn and wheat prices. Weak weather risk removes a source of support.

## Read by commodity

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

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-soy-falls-as-brazil-crop-forecasts-grow

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