# Soybeans pulled higher by bean oil - Brownfield Ag News

> Soybeans closed modestly higher on commercial and technical buying, with soybean oil gaining on palm oil strength. Hot, dry weather in Argentina and southern Brazil and harvest delays in northern Brazil were noted, and unknown buyers purchased 132,000 tons of 2022/23 U.S. soybeans.

- Date: 2022-01-05 · published 2022-01-05T12:00:00.000Z
- Category: market · region South America · magnitude low
- Page: https://feedsoft.ai/events/5772-soybeans-pulled-higher-by-bean-oil-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Dry South American weather and a Malaysian palm oil output cut support vegetable oil and soy prices. Chinese buying signals concern over Brazilian yields.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2022-01-07 | 5 | +9.2% | 3.2 | Soybeans closed higher on technical and commercial buying amid hot, dry Argentine and southern Brazil weather, Brazilian harvest delays and new-crop export purchases, supporting the complex, though bean oil was the main leader. |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-pulled-higher-by-bean-oil/

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