# Soybeans rally late on demand expectations - Brownfield Ag News

> Soybeans closed higher on commercial and technical buying, with a boost from the new RFS numbers and the bulk of the gains in soybean oil. Bean meal dropped on expected higher crush, while corn was mostly fractionally higher and wheat fell on profit taking and large world supplies.

- Date: 2016-11-23 · published 2016-11-23T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/6693-soybeans-rally-late-on-demand-expectations-brownfield-ag-news
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Expected biodiesel demand from the RFS supports soybean oil, while the crush-driven meal supply increase weighs on meal. Ample world wheat supply keeps wheat prices under pressure.

## Read by commodity

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

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-rally-late-demand-expectations/

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