# Soybeans extend run to 2-month high as vegoils rally - Agweek | #1 source for agriculture news, farming, markets

> Chicago soybean futures reached a two-month high as a rally in Asian vegetable oil markets added to support from strong US export demand. Malaysian palm oil rose 3.6% and CBOT soyoil gained 2.6%, while wheat and corn were little changed.

- Date: 2016-10-24 · published 2016-10-24T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10540-soybeans-extend-run-to-2-month-high-as-vegoils-rally-agweek-1-source-for
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Higher vegetable oil prices raise the value of soybean crushing, supporting soybean prices and reflecting tight Asian edible oil supplies.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲
- PALMOIL: bullish ▲

## Sources

- agweek.com: https://www.agweek.com/business/soybeans-extend-run-to-2-month-high-as-vegoils-rally

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