# Soybean Oil Climbs to Six-Year High | Feed & Grain

> Soybean oil futures extended their rally to a six-year high, while soybeans rose to their highest since June 2014 on expectations of record Chinese imports. Dryness in South America was also cited as a concern for world supply, though signs of beneficial rain in Brazil weighed on prices.

- Date: 2020-12-01 · published 2020-12-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/49742-soybean-oil-climbs-to-six-year-high-feed-and-grain
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Strong Chinese buying and South American dryness tighten global oilseed supply, supporting soymeal and soyoil costs for feed formulators. Beneficial Brazilian rain is the main factor that could cap further gains.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲

## Sources

- feedandgrain.com: https://www.feedandgrain.com/grain-supply-chain/news/15388592/soybean-oil-climbs-to-six-year-high

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