# Corn Firms as Oil Rally Offsets Good Crop Weather in Midwest | Feed & Grain

> U.S. corn and soybean futures rose on Monday as crude oil prices surged, offsetting pressure from favorable Midwest weather for late-developing crops. Confirmation of further Chinese purchases of U.S. soybeans also supported the market. Wheat firmed alongside corn on dry conditions in parts of the Southern Hemisphere.

- Date: 2020-12-01 · published 2020-12-01T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/49677-corn-firms-as-oil-rally-offsets-good-crop-weather-in-midwest-feed-and-grain
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher crude oil lifts ethanol and biofuel economics, which supports corn demand. Continued Chinese buying supports soybean and meal prices for feed buyers.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Sources

- feedandgrain.com: https://www.feedandgrain.com/grain-supply-chain/news/15394760/corn-firms-as-oil-rally-offsets-good-crop-weather-in-midwest

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