# Soybeans approach bull market as floods damage Argentina’s crop | Bowling Green Daily News

> Soybean futures were poised to enter a bull market after flooding in Argentina, the largest soymeal and soyoil exporter, damaged crops. Officials estimate output will fall more than 8%, and China's March soybean imports rose 36% to a record for the month.

- Date: 2016-04-22 · published 2016-04-22T12:00:00.000Z
- Category: weather · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/8548-soybeans-approach-bull-market-as-floods-damage-argentina-s-crop-bowling-green
- 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

An estimated 8%+ cut in Argentine output plus strong Chinese import demand tightens soybean, meal and oil supplies and should lift prices, with buyers shifting toward US supplies.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2016-04-21 | [Soybeans Enter Bull Market After Floods Damage Argentina's Crop \| Investor's Business Daily](https://feedsoft.ai/events/7718-soybeans-enter-bull-market-after-floods-damage-argentina-s-crop-investor-s.md) | +0.9% | +6.5% |
| SOY | 2016-04-21 | [Argentina floods cause soy crop losses, force evacuations \| AP News](https://feedsoft.ai/events/8547-argentina-floods-cause-soy-crop-losses-force-evacuations-ap-news.md) | +0.9% | +6.5% |
| SOY | 2017-01-17 | [Flooding threatens Argentina's crops - Brownfield Ag News](https://feedsoft.ai/events/72844-flooding-threatens-argentina-s-crops-brownfield-ag-news.md) | +1.5% | +1.1% |
| 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 | 2017-01-04 | [Soybeans charge higher amid reports of flooding in Argentina](https://feedsoft.ai/events/73022-soybeans-charge-higher-amid-reports-of-flooding-in-argentina.md) | +1.9% | +5.1% |
| SBM | 2016-04-21 | [Soybeans Enter Bull Market After Floods Damage Argentina's Crop \| Investor's Business Daily](https://feedsoft.ai/events/7718-soybeans-enter-bull-market-after-floods-damage-argentina-s-crop-investor-s.md) | +2.0% | +16.9% |
| SBM | 2016-04-21 | [Argentina floods cause soy crop losses, force evacuations \| AP News](https://feedsoft.ai/events/8547-argentina-floods-cause-soy-crop-losses-force-evacuations-ap-news.md) | +2.0% | +16.9% |
| SBM | 2017-01-17 | [Flooding threatens Argentina's crops - Brownfield Ag News](https://feedsoft.ai/events/72844-flooding-threatens-argentina-s-crops-brownfield-ag-news.md) | +3.3% | +3.2% |

## Sources

- bgdailynews.com: https://bgdailynews.com/2016/04/22/soybeans-approach-bull-market-as-floods-damage-argentinas-crop/

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