# China's soybean futures hit record high as supply, acreage tighten - Markets - Business Recorder

> China's soybean futures on the Dalian exchange hit a record high on tight domestic supply. Some Chinese farmers are expected to switch from soybeans to corn on better profits, and China plans to raise corn planting by at least 667,000 hectares. Higher edible oil prices also supported the rally.

- Date: 2021-03-01 · published 2021-03-01T12:00:00.000Z
- Category: market · region China · magnitude medium
- Page: https://feedsoft.ai/events/48149-china-s-soybean-futures-hit-record-high-as-supply-acreage-tighten-markets
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Tight Chinese supply and strong import demand support global soybean prices. Expected acreage shift to corn in China could reduce future domestic soybean output and increase import needs.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40069009

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