# U.S. grains: Soybeans up one per cent as soyoil climbs - Grainews

> US soybean futures rose about 1% on bargain buying and uncertainty about South American crop prospects. Soybean oil advanced about 2% after Indonesia raised its crude palm oil export levy, and corn rose while wheat declined.

- Date: 2020-12-03 · published 2020-12-03T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/49746-u-s-grains-soybeans-up-one-per-cent-as-soyoil-climbs-grainews
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A higher Indonesian palm oil levy makes Malaysian palm oil relatively more expensive, which can shift demand toward soyoil and support its price. South American weather uncertainty keeps soybean meal costs elevated for feed mills.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲

## Sources

- grainews.ca: https://www.grainews.ca/daily/u-s-grains-soybeans-up-one-per-cent-as-soyoil-climbs/

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