# Soybeans rally as U.S. forecast turns hot, dry | Financial Post

> Chicago soybean futures hit a two-week high as hot, dry weather forecasts for the U.S. Midwest through early August threatened crop development. Wheat fell after an agreement to reopen Ukrainian maritime grain exports moved forward.

- Date: 2022-07-27 · published 2022-07-27T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/8742-soybeans-rally-as-u-s-forecast-turns-hot-dry-financial-post
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Weather risk supports soybean prices during a critical growth stage, while the Ukrainian export deal adds bearish pressure on wheat supplies.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2022-07-27 | 5 | -11.0% | -2.9 | On July 27, wheat fell as the agreement to reopen Ukrainian maritime exports advanced, which falls directly within the 5-day window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-07-29 | [Soybeans set for biggest weekly gain in 22 years as U.S. Midwest heats up \| Financial Post](https://feedsoft.ai/events/8740-soybeans-set-for-biggest-weekly-gain-in-22-years-as-u-s-midwest-heats-up.md) | +0.4% | -3.5% |
| SOY | 2020-10-06 | [Dry weather pushes CBOT wheat, soybeans to multi-year peaks \| Financial Post](https://feedsoft.ai/events/11636-dry-weather-pushes-cbot-wheat-soybeans-to-multi-year-peaks-financial-post.md) | +1.2% | +2.9% |
| SOY | 2022-12-30 | [Soybeans set to gain for 4th year amid Argentina drought, China demand \| Financial Post](https://feedsoft.ai/events/38279-soybeans-set-to-gain-for-4th-year-amid-argentina-drought-china-demand-financial.md) | -0.5% | +1.8% |
| SOY | 2020-11-20 | [Soybeans at four-year high as demand and weather keep market bubbling \| Financial Post](https://feedsoft.ai/events/50177-soybeans-at-four-year-high-as-demand-and-weather-keep-market-bubbling-financial.md) | +1.2% | +3.6% |
| SOY | 2021-03-08 | [Soybeans hit highest in almost 7 years on S.American crop worry \| Financial Post](https://feedsoft.ai/events/6559-soybeans-hit-highest-in-almost-7-years-on-s-american-crop-worry-financial-post.md) | -1.3% | -1.5% |
| CORN | 2020-12-03 | [Soybeans firm after 2-week low, wheat slips on Australian crop \| Financial Post](https://feedsoft.ai/events/5270-soybeans-firm-after-2-week-low-wheat-slips-on-australian-crop-financial-post.md) | +0.0% | +3.9% |
| CORN | 2018-02-14 | [U.S. grains: Soymeal rally lifts soybean futures - AgCanada](https://feedsoft.ai/events/10004-u-s-grains-soymeal-rally-lifts-soybean-futures-agcanada.md) | -0.2% | +5.0% |
| CORN | 2024-09-26 | [Argentine exchange forecasts soybean harvest at 52 mln tons](https://feedsoft.ai/events/13902-argentine-exchange-forecasts-soybean-harvest-at-52-mln-tons.md) | +2.5% | +0.4% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/soybeans-rally-as-u-s-forecast-turns-hot-dry

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