# Chicago soybeans set for weekly gain on Chinese demand prospect - Markets - Business Recorder

> Chicago soybean futures rose nearly 1% on Friday and were set for a weekly gain on expectations of strong Chinese demand. Wheat gained on Black Sea supply concerns and Australian crop rain damage, and was on track for its first weekly rise since early October.

- Date: 2022-11-04 · published 2022-11-04T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/38699-chicago-soybeans-set-for-weekly-gain-on-chinese-demand-prospect-markets
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Expected Chinese purchases support soybean prices, while supply worries in the Black Sea and Australia lift wheat, though the market remains sensitive to COVID-related demand news.

## Read by commodity

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

## Sources

- brecorder.com: https://www.brecorder.com/news/40207036

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