# Canada Know-Risk Market Outlook | Soybean Oil Leads CBOT Higher

> Soybean oil rallied about 2% and led grain and oilseed markets higher, with canola up $4/t and soybeans up nearly 10 cents. Rumors circulated of China buying US soybeans off the Pacific Northwest and of drone damage at Ukrainian ports, though neither was confirmed.

- Date: 2023-11-20 · published 2023-11-20T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/12475-canada-know-risk-market-outlook-soybean-oil-leads-cbot-higher
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Soybean oil strength and unconfirmed China buying support soybean complex prices, while Brazil flooding and replanting create uncertainty for second-crop corn.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- CANMEAL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CANMEAL | 2023-11-20 | 1 | +5.3% | 2.9 | On 2023-11-20 soybean oil led CBOT higher, with canola up $4/t and soybeans up, plus unconfirmed China buying of US soybeans and Ukrainian port drone rumors, creating sentiment-driven oilseed gains that could spill into canola meal. |

## Sources

- stonex.com: https://www.stonex.com/en-us/insights/canada-know-risk-market-outlook-soybean-oil-leads-cbot-higher/

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