# Soybeans Enter Bull Market After Floods Damage Argentina's Crop | Investor's Business Daily

> Soybean futures entered a bull market after floods damaged crops in parts of Argentina, the world's third-largest soybean producer. Argentina received as much as six times its normal rainfall this month, and the Santa Fe governor said flooded fields will result in a crop failure. Argentina is also the top exporter of soybean meal and vegetable oil.

- Date: 2016-04-21 · published 2016-04-21T12:00:00.000Z
- Category: weather · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/7718-soybeans-enter-bull-market-after-floods-damage-argentina-s-crop-investor-s
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Flood losses in Argentina cut supplies of soybeans, meal and oil that are major sources of global protein feed, supporting higher prices for feed buyers. Losses in a leading exporter tighten world supply and lift meal and oil prices.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2016-04-22 | [Soybeans approach bull market as floods damage Argentina’s crop \| Bowling Green Daily News](https://feedsoft.ai/events/8548-soybeans-approach-bull-market-as-floods-damage-argentina-s-crop-bowling-green.md) | -0.1% | +5.2% |
| SOY | 2022-03-18 | [Soybeans rise on firm vegoils, Argentina crop concerns; corn steady - Markets - Business Recorder](https://feedsoft.ai/events/42293-soybeans-rise-on-firm-vegoils-argentina-crop-concerns-corn-steady-markets.md) | +1.9% | +0.8% |
| SOY | 2017-04-12 | [Flooding In Argentina May Delay Soy Crop Harvesting \| Investing.com](https://feedsoft.ai/events/71348-flooding-in-argentina-may-delay-soy-crop-harvesting-investing-com.md) | +1.2% | +2.4% |
| SOY | 2023-02-21 | [Corn near 1-week high on Argentina supply woes, soybeans firm - Markets - Business Recorder](https://feedsoft.ai/events/37347-corn-near-1-week-high-on-argentina-supply-woes-soybeans-firm-markets-business.md) | -0.6% | -2.7% |
| SOY | 2016-05-10 | [Argentina Floods Spark Biggest Bet On Soybean Rally In Two Years \| ESM Magazine](https://feedsoft.ai/events/6520-argentina-floods-spark-biggest-bet-on-soybean-rally-in-two-years-esm-magazine.md) | +4.5% | +12.0% |
| SBM | 2016-04-22 | [Soybeans approach bull market as floods damage Argentina’s crop \| Bowling Green Daily News](https://feedsoft.ai/events/8548-soybeans-approach-bull-market-as-floods-damage-argentina-s-crop-bowling-green.md) | +1.7% | +16.3% |
| SBM | 2022-03-18 | [Soybeans rise on firm vegoils, Argentina crop concerns; corn steady - Markets - Business Recorder](https://feedsoft.ai/events/42293-soybeans-rise-on-firm-vegoils-argentina-crop-concerns-corn-steady-markets.md) | +1.6% | -3.8% |
| SBM | 2017-04-12 | [Flooding In Argentina May Delay Soy Crop Harvesting \| Investing.com](https://feedsoft.ai/events/71348-flooding-in-argentina-may-delay-soy-crop-harvesting-investing-com.md) | +0.5% | +1.5% |

## Sources

- investors.com: https://www.investors.com/research/futures/soybeans-enter-bull-market-after-floods-damage-argentinas-crop/

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