# Trump-sparked soyoil rally pushes soybeans towards weekly gain - Markets - Business Recorder

> Chicago soybean futures eased after a prior-session high, following a rally in vegetable oils that followed Trump's re-election. Soyoil reached a four-month high on solid export demand and expectations of possible tariffs on US used cooking oil imports, while corn and wheat were little changed.

- Date: 2024-11-08 · published 2024-11-08T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/27480-trump-sparked-soyoil-rally-pushes-soybeans-towards-weekly-gain-markets-business
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Soyoil strength spilled over into soybeans, which were on track for a weekly gain. Speculative buying and steady export demand support soybean prices despite concerns about trade tensions with China.

## Read by commodity

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

## Sources

- brecorder.com: https://www.brecorder.com/news/40331418

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