# Market Snapshot | Soyoil forges fresh near-term highs - Pro Farmer

> Corn and soybeans rose on February 23, with soyoil reaching fresh near-term highs and soymeal up about $2.20. USDA reported 125,000 MT of daily corn sales to Colombia and weekly export inspections of 2.01 MMT for corn. Southern Brazil's safrinha corn planting was reported slowed by dry weather.

- Date: 2026-02-23 · published 2026-02-23T12:00:00.000Z
- Category: weather · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/5502-market-snapshot-soyoil-forges-fresh-near-term-highs-pro-farmer
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Slower Brazilian safrinha planting and dryness in southern Brazil raise concerns about second-crop corn supply, supporting corn prices. Strong US export demand for corn and soy tightens nearby supplies.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2026-02-23 | 1 | +4.5% | 6.3 | Feb 23 market snapshot shows soymeal up about $2.20 alongside soyoil highs, which directly describes the day's rise, though the cited gain is smaller than a 4.5% move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-10-21 | [Market Snapshot \| October 21, 2024 - Pro Farmer](https://feedsoft.ai/events/11151-market-snapshot-october-21-2024-pro-farmer.md) | +1.5% | +2.5% |
| CORN | 2025-03-17 | [Market Snapshot \| Iffy U.S. weather sparks wheat rally - Pro Farmer](https://feedsoft.ai/events/5622-market-snapshot-iffy-u-s-weather-sparks-wheat-rally-pro-farmer.md) | +7.3% | +7.8% |
| CORN | 2026-04-23 | [Market Snapshot \| Costly inputs and weather burden global wheat production - Pro Farmer](https://feedsoft.ai/events/19768-market-snapshot-costly-inputs-and-weather-burden-global-wheat-production-pro.md) | +1.7% | +2.9% |
| CORN | 2021-04-21 | [Midweek Markets: Soybeans soar to seven-year highs](https://feedsoft.ai/events/6624-midweek-markets-soybeans-soar-to-seven-year-highs.md) | +14.7% | +11.9% |
| CORN | 2026-07-06 | [Here are 3 big reasons for the grain market's post-4th of July rally - Pro Farmer](https://feedsoft.ai/events/10786-here-are-3-big-reasons-for-the-grain-market-s-post-4th-of-july-rally-pro-farmer.md) | +1.6% | +1.6% |
| SOY | 2024-10-21 | [Market Snapshot \| October 21, 2024 - Pro Farmer](https://feedsoft.ai/events/11151-market-snapshot-october-21-2024-pro-farmer.md) | +1.8% | +2.9% |
| SOY | 2021-04-21 | [Midweek Markets: Soybeans soar to seven-year highs](https://feedsoft.ai/events/6624-midweek-markets-soybeans-soar-to-seven-year-highs.md) | +5.3% | +6.9% |
| SOY | 2026-07-06 | [Here are 3 big reasons for the grain market's post-4th of July rally - Pro Farmer](https://feedsoft.ai/events/10786-here-are-3-big-reasons-for-the-grain-market-s-post-4th-of-july-rally-pro-farmer.md) | +5.7% | +3.6% |

## Sources

- profarmer.com: https://www.profarmer.com/pro-farmer-max/market-snapshot/market-snapshot-soyoil-drives-soy-complex-higher

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