# Classic Technical Breakout in Soybean Meal Prices Precedes Drier Weather

> December soybean meal closed at a three-month high on July 27, breaking out of a five-month sideways pattern. Speculators kept accumulating meal positions while other grains were liquidated, and Illinois cash meal premiums rose sharply, pointing to commercial buying.

- Date: 2022-07-29 · published 2022-07-29T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/8744-classic-technical-breakout-in-soybean-meal-prices-precedes-drier-weather
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Commercial buying and rising cash premiums signal firm meal demand, which supports feed-meal prices for buyers.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2022-07-28 | 5 | +12.5% | 3.3 | December meal broke out of a five-month range to a three-month high, with speculative buying and rising cash premiums adding momentum. |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2022/07/29/classic-technical-breakout-soybean

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