# Wheat, corn rebound as soybeans sell off - Brownfield Ag News

> Wheat and corn rebounded on Monday while soybeans sold off on commercial and technical selling and good Argentine rainfall. Soybean oil closed higher on crude oil strength despite a large drop in Malaysian palm oil futures, and China reported a 24% rise in soybean output.

- Date: 2022-12-12 · published 2022-12-12T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/5523-wheat-corn-rebound-as-soybeans-sell-off-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Rains in Argentina and a larger Chinese crop weigh on soybean and meal prices, while crude oil strength supports soybean oil and vegetable oil values.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: bearish ▼
- WTI: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- PALMOIL: bearish ▼

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/wheat-corn-rebound-as-soybeans-sell-off/

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