Loading…
Soybean futures in Chicago fell 5.3% in the prior week, with the August contract settling at 1105 cents per bushel. Favorable U.S. crop conditions and weak demand kept pressure on prices, while the USDA report caused no major move.
Bullish factors included flood losses in Rio Grande do Sul and a large fund short position.
Ample U.S. supply and soft demand, including pressured Chinese crush margins, cap soybean and meal prices. Flood losses in Brazil and short covering are the main upside risks.
stonex.comStoneX Intelligence BrazilJul 15, 2024Not 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.
