# Soybeans Make Contract Highs on Weather, China Demand and Corn Follows: Wheat Sees Profit Taking - AgWeb

> August soybeans closed at $12.37-1/2 and November at a new contract high of $12.43-3/4. The rally reflected strong China demand, with 56.5 million bushels of new-crop export sales in the latest weekly report, 40 million of them to China. Hot, dry forecasts for the Northwestern Corn Belt also lifted corn, while wheat took profit.

- Date: 2026-07-23 · published 2026-07-23T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/18391-soybeans-make-contract-highs-on-weather-china-demand-and-corn-follows-wheat
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Strong China buying and weather risk support soybean and corn prices, which raises the cost of soy-based and corn-based feed. Wheat's profit-taking suggests less near-term pressure from the Black Sea rally.

## Read by commodity

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

## Sources

- agweb.com: https://www.agweb.com/markets/market-analysis/corn-rallies-soybeans-make-contract-highs-weather-china-demand-wheat-sees

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