# Soybeans continue to climb on weather concerns - Brownfield Ag News

> Soybeans rose on commercial and technical buying after a bullish week driven by forecasts of hot, dry weather in the Midwest and Plains. Bean oil rose sharply on crude oil strength and proposed biodiesel tax credits, while soybean meal ended mixed after setting new highs. Corn also rallied on weather concerns.

- Date: 2022-07-28 · published 2022-07-28T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/8747-soybeans-continue-to-climb-on-weather-concerns-brownfield-ag-news
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Crop-loss risk in August, plus biofuel-linked demand for soybean oil, supports prices for soy-based feed and oil products.

## Read by commodity

- SBM: neutral
- SBO: bullish ▲
- SOY: bullish ▲
- WTI: bullish ▲
- CORN: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2022-07-28 | 5 | +12.5% | 3.3 | Weather-driven buying lifted the soy complex and meal set new highs, with Midwest and Plains hot, dry forecasts as the key driver. |
| SOY | 2022-07-28 | 5 | +14.1% | 4.2 | July 28 gains on weather forecasts, with soybean oil up on crude strength and proposed biodiesel tax credits and meal at new highs. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-06-07 | [Corn, soybeans higher on weather concerns - Brownfield Ag News](https://feedsoft.ai/events/70428-corn-soybeans-higher-on-weather-concerns-brownfield-ag-news.md) | +0.6% | +1.5% |
| CORN | 2017-07-14 | [Soybeans, corn supported by renewed weather concerns - Brownfield Ag News](https://feedsoft.ai/events/69796-soybeans-corn-supported-by-renewed-weather-concerns-brownfield-ag-news.md) | +5.3% | -1.2% |
| CORN | 2017-06-29 | [Wheat surges on weather concerns in Plains - Brownfield Ag News](https://feedsoft.ai/events/9719-wheat-surges-on-weather-concerns-in-plains-brownfield-ag-news.md) | +5.9% | +3.9% |
| CORN | 2017-05-01 | [Weather woes support corn, soybeans, wheat - Brownfield Ag News](https://feedsoft.ai/events/10482-weather-woes-support-corn-soybeans-wheat-brownfield-ag-news.md) | +1.1% | +4.2% |
| CORN | 2017-07-27 | [Weather forecasts support soybeans, corn - Brownfield Ag News](https://feedsoft.ai/events/7126-weather-forecasts-support-soybeans-corn-brownfield-ag-news.md) | -1.3% | -7.0% |
| SOY | 2017-06-07 | [Corn, soybeans higher on weather concerns - Brownfield Ag News](https://feedsoft.ai/events/70428-corn-soybeans-higher-on-weather-concerns-brownfield-ag-news.md) | +1.0% | +5.7% |
| SOY | 2017-07-14 | [Soybeans, corn supported by renewed weather concerns - Brownfield Ag News](https://feedsoft.ai/events/69796-soybeans-corn-supported-by-renewed-weather-concerns-brownfield-ag-news.md) | +4.2% | -4.3% |
| SOY | 2017-06-29 | [Wheat surges on weather concerns in Plains - Brownfield Ag News](https://feedsoft.ai/events/9719-wheat-surges-on-weather-concerns-in-plains-brownfield-ag-news.md) | +7.3% | +8.8% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-continue-to-climb-on-weather-concerns/
- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-corn-continue-to-rally-on-weather-concerns/

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