# Soybeans supported by vegetable oil strength - Brownfield Ag News

> Soybeans rose on commercial and technical buying and spillover from higher vegetable oil futures, with December bean oil reaching a two-year high. Corn and wheat were lower on commercial and technical selling, with wheat facing ample domestic and global supplies.

- Date: 2016-10-24 · published 2016-10-24T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/10542-soybeans-supported-by-vegetable-oil-strength-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Vegetable oil strength supports soybean and meal values, while heavy wheat and corn supplies keep feed grain prices under pressure.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲
- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2016-10-24 | 1 | -2.2% | -3.4 | Describes commercial and technical selling in wheat on 24 Oct amid ample domestic and global supplies, which points to sentiment and supply pressure. |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-supported-vegetable-oil-strength/

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