# Soybeans surge again - Brownfield Ag News

> Soybeans rallied again on commercial and technical buying, with most contracts back above $10 a bushel. The market is watching political and weather issues in Brazil and dry conditions in Argentina, where forecasts show improvement but not immediately. Brazil also ended its corn import tax for non-Mercosur countries for up to 1 million tons, and soybean meal rose sharply.

- Date: 2016-04-20 · published 2016-04-20T12:00:00.000Z
- Category: weather · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/7723-soybeans-surge-again-brownfield-ag-news
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Expected Argentine production shortfalls and Brazilian weather and political risk support soybean and meal prices. Brazil's tariff cut adds import demand for corn, tightening global feed supply.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-01-19 | [Soybean meal pulls soybeans, corn higher - Brownfield Ag News](https://feedsoft.ai/events/12096-soybean-meal-pulls-soybeans-corn-higher-brownfield-ag-news.md) | +2.8% | +6.0% |
| WHEAT | 2017-07-13 | [Big drop for corn, soybeans, and wheat - Brownfield Ag News](https://feedsoft.ai/events/6475-big-drop-for-corn-soybeans-and-wheat-brownfield-ag-news.md) | -1.8% | -1.6% |
| WHEAT | 2016-07-20 | [Near term weather forecasts pressure soybeans, corn - Brownfield Ag News](https://feedsoft.ai/events/10877-near-term-weather-forecasts-pressure-soybeans-corn-brownfield-ag-news.md) | -1.5% | -0.3% |
| WHEAT | 2016-06-22 | [Rain, stronger dollar especially hard on the corn market - Brownfield Ag News](https://feedsoft.ai/events/9749-rain-stronger-dollar-especially-hard-on-the-corn-market-brownfield-ag-news.md) | -7.5% | -9.8% |
| WHEAT | 2023-12-22 | [Limited business headed into long holiday weekend - Brownfield Ag News](https://feedsoft.ai/events/11284-limited-business-headed-into-long-holiday-weekend-brownfield-ag-news.md) | +0.9% | +1.5% |
| SOY | 2018-12-17 | [Soybeans bounce back a bit - Brownfield Ag News](https://feedsoft.ai/events/7514-soybeans-bounce-back-a-bit-brownfield-ag-news.md) | -1.7% | -0.8% |
| SOY | 2022-07-27 | [Soybeans, soybean products extend gains - Brownfield Ag News](https://feedsoft.ai/events/40517-soybeans-soybean-products-extend-gains-brownfield-ag-news.md) | +2.4% | +2.2% |
| SOY | 2020-07-02 | [Soybeans, corn extend rally - Brownfield Ag News](https://feedsoft.ai/events/12774-soybeans-corn-extend-rally-brownfield-ag-news.md) | +0.5% | -0.2% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/nearby-soybeans-higher/
- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-back-10/
- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-surge-again/

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