# U.S. grains: Soy hits six-week low on South American prospects - Grainews

> CBOT March soybeans fell to a six-week low of $9.95 a bushel on improving South American crop prospects and uncertainty over Chinese export demand. Corn rose on technical buying and expected index fund rebalancing, and wheat closed lower.

- Date: 2017-01-03 · published 2017-01-03T12:00:00.000Z
- Category: weather · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/73024-u-s-grains-soy-hits-six-week-low-on-south-american-prospects-grainews
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Better Brazilian and Argentine outlooks reduce the need for US soybean acreage and weigh on meal prices for feed buyers.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bullish ▲
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 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) | -1.7% | -6.1% |
| SOY | 2019-12-19 | [U.S. grains: Soy futures ease on rains in South American forecasts - Grainews](https://feedsoft.ai/events/55628-u-s-grains-soy-futures-ease-on-rains-in-south-american-forecasts-grainews.md) | +1.0% | +0.1% |
| SOY | 2023-10-30 | [U.S. grains: South America rains push soy futures down - Grainews](https://feedsoft.ai/events/33658-u-s-grains-south-america-rains-push-soy-futures-down-grainews.md) | +2.3% | +2.5% |
| SOY | 2021-10-21 | [U.S. grains: Soy down on South American weather, technical pressure - AgCanada](https://feedsoft.ai/events/44600-u-s-grains-soy-down-on-south-american-weather-technical-pressure-agcanada.md) | -0.5% | +2.5% |
| SOY | 2024-07-10 | [U.S. grains: Soy futures fall to 2020 low on strong US crop prospects](https://feedsoft.ai/events/11196-u-s-grains-soy-futures-fall-to-2020-low-on-strong-us-crop-prospects.md) | -6.1% | -11.5% |
| SBM | 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) | +1.7% | -5.1% |
| SBM | 2019-12-19 | [U.S. grains: Soy futures ease on rains in South American forecasts - Grainews](https://feedsoft.ai/events/55628-u-s-grains-soy-futures-ease-on-rains-in-south-american-forecasts-grainews.md) | -1.1% | -0.8% |
| SBM | 2023-10-30 | [U.S. grains: South America rains push soy futures down - Grainews](https://feedsoft.ai/events/33658-u-s-grains-south-america-rains-push-soy-futures-down-grainews.md) | +0.4% | +4.9% |

## Sources

- grainews.ca: https://www.grainews.ca/daily/u-s-grains-soy-hits-six-week-low-on-south-american-prospects/

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