# Soybeans reach 7-month peak on oil strength, South American crop worries | Financial Post

> U.S. soybean futures hit a seven-month high on technical buying and a rally in soyoil tracking energy and palm oil. Concerns over a reduced South American harvest and lower Brazilian exports added support, while CBOT wheat fell sharply.

- Date: 2022-01-26 · published 2022-01-26T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/43183-soybeans-reach-7-month-peak-on-oil-strength-south-american-crop-worries
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Higher crude and vegoil prices lift soybean and soymeal values, raising feed input costs. Reduced Brazilian exports tighten global soy supply.

## Read by commodity

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

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/soybeans-reach-7-month-peak-on-oil-strength-south-american-crop-worries

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