# Soymeal rally sends soybeans higher on the week

> Soymeal futures rose $9.20 to $498.50/ton on domestic demand and Argentine crop worries, pulling soybeans higher for a third day. Corn also firmed on technical buying, with hopes for renewed export purchases.

- Date: 2023-03-03 · published 2023-03-03T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/36940-soymeal-rally-sends-soybeans-higher-on-the-week
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Argentine drought cuts and slow crushing tighten global meal supply, supporting soymeal and feed costs for buyers ahead of USDA cuts.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Sources

- feedstuffs.com: https://www.feedstuffs.com/grain-market-news/soymeal-rally-sends-soybeans-higher-on-the-week

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