Soybeans ($SOY) Commodity Forecast: Up 2.8% Today

What is Soybeans?

Soybeans are a widely traded commodity with various uses including animal feed, cooking oil, and biofuels. Weather conditions in key producing regions like Argentina and trade policies between countries such as the U.S. and China greatly affect the soybean market.

Why is Soybeans going up?

SOY commodity is up 2.8% on Jan 10, 2025 17:10

• Soybean futures dropped below $10 per bushel as profit-taking occurred following forecasts of rain in drought-affected areas of Argentina.
• Concerns about the possible impact of proposed tariffs by President-elect Donald Trump on U.S. soybean prices are creating market uncertainty, potentially leading to prices below farmers' production costs.
• The combination of improved weather conditions in Argentina and trade policy worries is contributing to price volatility in the soybean market. Traders are closely watching these factors for future market trends.

SOY Price Chart

SOY Technical Analysis

SOY News

Soybeans Futures Dip on Tuesday

Soybean futures edged lower to below $10 per bushel on Tuesday, as forecasts for rain in Argentina's drought-hit regions encouraged profit-taking. The weather in South America, particularly Argentina, has driven market volatility, with dryness expected to persist over the next week, though showers are possible in the 11–15-day range, according to Commodity Weather Group. Analysts at Rabobank warned that U.S. soybean prices could drop well below farmers' cost of production if President-elect Donald Trump's proposed tariffs lead to another trade war with China, further pressuring the market. Uncertainty around U.S. trade policies and improved weather prospects in Argentina remain key factors impacting soybean prices.

Trending Today

Sui ($SUI) Crypto Forecast: Down 5.3% Today

Cardano ($ADA) Crypto Forecast: Down 5.5% Today

MANTRA ($OM) Crypto Forecast: Down 5.4% Today

Stellar ($XLM) Crypto Forecast: Down 5.1% Today

Movement ($MOVE) Crypto Forecast: Down 8.2% Today

JasmyCoin ($JASMY) Crypto Forecast: Down 5.2% Today

Shiba Inu ($SHIB) Crypto Forecast: Down 5.1% Today

Bonk ($BONK) Crypto Forecast: Down 5.2% Today

Ethena ($ENA) Crypto Forecast: Down 5.8% Today

Decentraland ($MANA) Crypto Forecast: Down 5.1% Today

Soybeans Price History

08.10.2024 - SOY Commodity was up 2.5%

• The bullish movement in soybean prices today can be attributed to the rebound from a recent nine-week low, supported by strong U.S. demand and rising crude oil prices.
• The increase in soybean futures was also driven by higher U.S. soybean exports reported by the USDA, indicating healthy demand for the commodity.
• Despite the downward pressure from a stronger U.S. dollar and ample supply, the market sentiment turned positive due to the supportive factors of demand and export figures.
• The shift in planting patterns in Argentina and Brazil towards soybeans due to low corn prices and expected dry conditions also contributed to the bullish movement in soybean prices.

10.00.2025 - SOY Commodity was up 2.8%

• Soybean futures dropped below $10 per bushel as profit-taking occurred following forecasts of rain in drought-affected areas of Argentina.
• Concerns about the possible impact of proposed tariffs by President-elect Donald Trump on U.S. soybean prices are creating market uncertainty, potentially leading to prices below farmers' production costs.
• The combination of improved weather conditions in Argentina and trade policy worries is contributing to price volatility in the soybean market. Traders are closely watching these factors for future market trends.

12.07.2023 - SOY Commodity was down 7.2%

• The bearish movement in soybeans can be attributed to the following factors:
• 1. Rainy weather and good growing conditions: The rainy weather across the key U.S. crop belt and forecasts for favorable growing conditions in August have raised expectations of a strong soybean crop. This has led to increased supply expectations, putting downward pressure on soybean prices.
• 2. Strong supply from China: The news of private exporters reporting the sale of a significant amount of soybeans to China for delivery in the future marketing year indicates a strong supply from China. This suggests that the demand for soybeans may not be as robust as previously anticipated, further contributing to the bearish movement.
• 3. Previous concerns easing: The bearish movement in soybeans comes after the market reached an over 1-year high fueled by concerns over crop yields in the United States and improved Chinese demand prospects. With these concerns easing, investors may be taking profits and driving down prices.
• Overall, the bearish movement in soybeans can be attributed to favorable growing conditions, strong supply from China, and profit-taking after previous concerns eased.

11.07.2023 - SOY Commodity was down 5.1%

• Soybean futures fell to a 5-week low due to rainy weather in the key U.S. crop belt and favorable growing conditions expected for August.
• The market was also affected by the news of a large sale of soybeans to China, indicating strong demand.
• The previous surge in soybean prices was driven by concerns over crop yields in the United States and improving Chinese demand prospects.
• Overall, the bearish movement in soybeans can be attributed to favorable weather conditions and increased supply expectations, along with the absence of immediate concerns over crop yields and demand.

10.06.2024 - SOY Commodity was down 2.9%

• Soybeans hit a 10-week low at 1142.00 USd/Bu, signaling a significant downward trend.
• Over the past 4 weeks, there has been a continuous decrease with a substantial 17.04% drop in the last 12 months, indicating a persistent bearish sentiment.
• Possible factors contributing to the downward pressure on soybean prices may include oversupply, trade tensions affecting export demand, and unfavorable weather conditions impacting crop yields.

14.07.2024 - SOY Commodity was down 6.3%

• The near 4-year low in soybean prices reflects a pronounced downward trajectory.
• Ongoing price declines indicate a potential imbalance between supply and demand.
• The market's bearish trend may be influenced by trade disputes, weather-related harvest issues, or changing consumer preferences impacting soy product demand.