# US report drives protein markets

> Funds moved from near-record short to near-record long positions in soybeans and soymeal after a USDA report cut Argentina's soybean crop forecast by 2.5 million tonnes to 56.5 million. Soybean futures hit the daily limit, and soymeal reached its highest since 2014.

- Date: 2016-06-05 · published 2016-06-05T12:00:00.000Z
- Category: report · region Global · magnitude high
- Page: https://feedsoft.ai/events/9129-us-report-drives-protein-markets
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Lower South American supply and expected record Chinese imports push soybean and meal prices higher, with buyers likely turning to U.S. supplies.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-10-10 | [Mixed reports churn markets](https://feedsoft.ai/events/8768-mixed-reports-churn-markets.md) | +0.5% | -0.9% |
| SOY | 2019-06-28 | [USDA acreage report shocks the market](https://feedsoft.ai/events/58542-usda-acreage-report-shocks-the-market.md) | -1.7% | -0.5% |
| SOY | 2021-08-13 | [August WASDE Report Indicates Bullish Corn Markets - ProAg](https://feedsoft.ai/events/45501-august-wasde-report-indicates-bullish-corn-markets-proag.md) | -5.6% | -9.0% |
| SOY | 2020-12-03 | [Ag Markets Surprised by Stocks Report \| Feed & Grain](https://feedsoft.ai/events/49582-ag-markets-surprised-by-stocks-report-feed-and-grain.md) | +0.5% | +14.1% |
| SOY | 2018-03-30 | [The soybean market is shocked by the USDA report](https://feedsoft.ai/events/66080-the-soybean-market-is-shocked-by-the-usda-report.md) | -1.1% | +0.0% |
| SBM | 2019-10-10 | [Mixed reports churn markets](https://feedsoft.ai/events/8768-mixed-reports-churn-markets.md) | -0.2% | -2.1% |
| SBM | 2020-12-03 | [Ag Markets Surprised by Stocks Report \| Feed & Grain](https://feedsoft.ai/events/49582-ag-markets-surprised-by-stocks-report-feed-and-grain.md) | -1.3% | +11.5% |
| SBM | 2018-03-30 | [The soybean market is shocked by the USDA report](https://feedsoft.ai/events/66080-the-soybean-market-is-shocked-by-the-usda-report.md) | +0.6% | +2.4% |

## Sources

- farminglife.com: https://www.farminglife.com/business/us-report-drives-protein-markets-1317913

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