# Analyst Insight: Rapeseed market influences – where next for soyabeans? | AHDB

> UK feed wheat futures for Nov-23 closed at £207.50/t, and Chicago soyabean futures rose 14% over two weeks to $505.91/t, the highest since March 6. Dry US Midwest weather and a German forecast cut of 2.9% in the wheat crop were cited as support, and the Bank of England raised rates to 5%.

- Date: 2023-06-22 · published 2023-06-22T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/9770-analyst-insight-rapeseed-market-influences-where-next-for-soyabeans-ahdb
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Soyabean and wheat gains driven by US drought and German crop losses tighten feed grain and oilseed supplies, supporting higher feed ingredient prices.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- BRENT: neutral
- WHEAT: bullish ▲
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-05-21 | [Analyst Insight: A look at feed markets \| AHDB](https://feedsoft.ai/events/53299-analyst-insight-a-look-at-feed-markets-ahdb.md) | +0.0% | +3.1% |
| SOY | 2020-08-19 | [Midweek Markets: Where are grain prices headed next?](https://feedsoft.ai/events/51664-midweek-markets-where-are-grain-prices-headed-next.md) | +0.2% | +10.9% |
| SOY | 2019-06-24 | [Soybeans May Be Next Market to Surge as Wet Weather Drags On - TT](https://feedsoft.ai/events/58622-soybeans-may-be-next-market-to-surge-as-wet-weather-drags-on-tt.md) | -0.3% | -1.6% |
| SOY | 2021-05-05 | [?Perfect storm? for grain futures, market analyst says \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/11305-perfect-storm-for-grain-futures-market-analyst-says-iowa-agribusiness-radio.md) | +3.8% | -0.9% |
| SOY | 2021-04-23 | [EU wheat, rapeseed at fresh highs in grain surge - Markets - Business Recorder](https://feedsoft.ai/events/10292-eu-wheat-rapeseed-at-fresh-highs-in-grain-surge-markets-business-recorder.md) | +0.6% | 0.0% |
| WHEAT | 2020-05-21 | [Analyst Insight: A look at feed markets \| AHDB](https://feedsoft.ai/events/53299-analyst-insight-a-look-at-feed-markets-ahdb.md) | +1.3% | -0.9% |
| WHEAT | 2023-06-30 | [Tight outlook for EU barley next season? Grain market daily  \| AHDB](https://feedsoft.ai/events/35556-tight-outlook-for-eu-barley-next-season-grain-market-daily-ahdb.md) | -8.4% | -8.3% |
| WHEAT | 2021-10-14 | [Analyst Insight: La Niña could keep domestic wheat prices supported going into 2022 \| AHDB](https://feedsoft.ai/events/44470-analyst-insight-la-nina-could-keep-domestic-wheat-prices-supported-going-into.md) | +1.3% | +9.2% |

## Sources

- ahdb.org.uk: https://ahdb.org.uk/news/analyst-insight-rapeseed-market-influences-where-next-for-soyabeans

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