# Soymeal futures set multi-year high while soybeans decline | Financial Post

> Most-active CBOT soymeal futures rose to an 8.5-year high on tight supplies and speculative buying. Soybeans fell on expectations of a record Brazilian harvest and weaker crude oil, which weighed on soyoil. Wheat and corn were mixed to firmer.

- Date: 2023-02-03 · published 2023-02-03T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/12878-soymeal-futures-set-multi-year-high-while-soybeans-decline-financial-post
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Tight meal supplies in Argentina and strong US cash markets lift feed ingredient costs, while a large Brazilian harvest and weaker soyoil cap soybean gains.

## Read by commodity

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

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/soymeal-futures-set-multi-year-high-while-soybeans-decline-2
- agcanada.com: https://www.agcanada.com/daily/u-s-grains-soymeal-futures-set-multi-year-high-while-soybeans-decline

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