Why Soybeans moves
Soybeans rose clearly, moving more than the market.
Written after the close on ·
Updated 07:00 with news that came after the close
Why today
16,210 news analyzed todaySoybeans rose clearly, moving more than the market.
Soybean futures rose off a 12-week low, and the broader market was only slightly up.
The rebound came after a steep slide, and trading volume was well below its usual level, so the move lacks strong backing.
Soybeans fell sharply over the last five trading days, in line with the S&P 500.
Likely drivers are weak Chinese buying, heavy US crop supply and harvest pressure.
Today's move of +0.68% was 1.3 times a normal day's 0.5%. S&P 500 moved +0.31% on the same day.
Soybeans +0.68%S&P 500 +0.31%In step with the market
What followed similar falls?
Including reinvested dividends, Soybeans fell 2.7% over the latest five trading days. Since September 7, 2021, falls at least this large were followed by a higher value 21 trading days later in 16 out of 38 non-overlapping periods. The median was −0.8%, against −0.1% for an ordinary 21-day period, which ended higher 50 times in 100.
Such a fall has not said much about the next month.
−0.8% · 16/38
Earlier days
−0.29% market −4.41% Soybeans eased slightly; no company news explains it. Read →
Soybeans eased slightly; no company news explains it.
Soybeans fell only slightly in the last trading day, a move that is ordinary for this market.
Over the same day the S&P 500 fell very sharply, so soybeans held up better than stocks.
Over the last five trading days soybeans fell clearly.