# U.S. grains: Soyoil leads soybean complex higher - AgCanada

> Chicago soybean futures rose on Tuesday, led by soybean oil, which hit its highest most-active level since 2012 on tight global edible oil supplies. Corn and wheat also moved higher, with corn supported by Brazil's late-planted crop and Chinese purchases of U.S. corn. Traders were positioning ahead of USDA's March 31 reports.

- Date: 2021-03-23 · published 2021-03-23T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/8501-u-s-grains-soyoil-leads-soybean-complex-higher-agcanada
- 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

Routine price moves in the soybean complex reflect vegetable oil tightness and biofuel expectations, which support soybean and corn values for feed buyers. Pre-report positioning adds short-term volatility.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2021-03-22 | 1 | +5.2% | 3.8 | Soyoil led the soybean complex to its highest most-active level since 2012 on tight global edible oil supplies, closely matching the large move. |

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-soyoil-leads-soybean-complex-higher

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