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Soybeans fell on profit taking and technical selling after soybean oil was left off the U.S. tariff list against China. Brazil's CONAB raised its soybean estimate 0.6% to 147.7 million tons, though that is still 4.5% below last year.
Flooding in Rio Grande do Sul and Argentina continued to delay planting and harvest.
Brazil's crop estimate still sits well below last year, which supports soybean prices, but the soybean oil tariff exclusion and used cooking oil competition pressure oil and bean prices. Net effect is a modest downward bias.
brownfieldagnews.comMay 14, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
