# CBOT soyabean futures rally - Markets - Business Recorder

> CBOT soybean futures rallied on July 31, with the August contract up 27-3/4 cents to $16.37 a bushel and the most-active contract gaining nearly 12% for the week, its biggest weekly climb since 1999. Support came from soymeal demand and forecasts of hot, dry weather into August during pod development. Wheat futures eased as shipments through Ukraine's Black Sea ports advanced, though uncertainty remained.

- Date: 2022-07-31 · published 2022-07-31T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/40515-cbot-soyabean-futures-rally-markets-business-recorder
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Dry weather during the critical pod-setting stage threatens U.S. soybean yields, tightening supplies and lifting soymeal and soyoil prices for feed buyers. Progress on Black Sea grain shipments adds bearish pressure on wheat.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2022-07-28 | 5 | +12.5% | 3.3 | Soybean futures gained nearly 12% for the week on hot, dry August forecasts and soymeal demand, confirming the rally, though dated July 31, just after the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-07-11 | [CBOT soyabean futures higher - Markets - Business Recorder](https://feedsoft.ai/events/11496-cbot-soyabean-futures-higher-markets-business-recorder.md) | +0.7% | -2.4% |
| SOY | 2024-09-28 | [Soy futures soar on US weather woes - Markets - Business Recorder](https://feedsoft.ai/events/28337-soy-futures-soar-on-us-weather-woes-markets-business-recorder.md) | -2.6% | -7.3% |
| SOY | 2021-02-16 | [US MIDDAY: Wheat climbs - Markets - Business Recorder](https://feedsoft.ai/events/9256-us-midday-wheat-climbs-markets-business-recorder.md) | +0.9% | +3.5% |
| SOY | 2022-02-11 | [Soybeans set for 4th weekly gain on South American crop woes - Markets - Business Recorder](https://feedsoft.ai/events/42735-soybeans-set-for-4th-weekly-gain-on-south-american-crop-woes-markets-business.md) | +1.1% | +7.4% |
| SOY | 2019-05-20 | [News Archives for Markets - 2019-05-20 - Business Recorder](https://feedsoft.ai/events/5633-news-archives-for-markets-2019-05-20-business-recorder.md) | +1.0% | +11.1% |
| SBM | 2020-07-11 | [CBOT soyabean futures higher - Markets - Business Recorder](https://feedsoft.ai/events/11496-cbot-soyabean-futures-higher-markets-business-recorder.md) | -1.5% | -3.7% |
| SBM | 2024-09-28 | [Soy futures soar on US weather woes - Markets - Business Recorder](https://feedsoft.ai/events/28337-soy-futures-soar-on-us-weather-woes-markets-business-recorder.md) | -2.5% | -10.5% |
| SBM | 2022-02-11 | [Soybeans set for 4th weekly gain on South American crop woes - Markets - Business Recorder](https://feedsoft.ai/events/42735-soybeans-set-for-4th-weekly-gain-on-south-american-crop-woes-markets-business.md) | -1.4% | +10.3% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40189145

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