# Soybeans up on U.S. biodiesel data; corn posts monthly decline | Financial Post

> CBOT soybeans rose for a second session as soyoil climbed nearly 2% on demand from biodiesel, after EIA data showed May soyoil used for biodiesel at 778 million pounds. CBOT December corn ended a monthly decline of nearly 7% as improved Midwest weather raised prices' bumper-harvest outlook.

- Date: 2020-07-31 · published 2020-07-31T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/52155-soybeans-up-on-u-s-biodiesel-data-corn-posts-monthly-decline-financial-post
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Strong biodiesel demand supports soyoil and soybean crush economics, which lifts soybean meal supply costs, while improved US weather points to lower corn prices for feed buyers.

## Read by commodity

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

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/soybeans-up-on-u-s-biodiesel-data-corn-posts-monthly-decline

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