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A commentary on soybean meal notes that the July 2022 CBOT soybean meal futures contract expired in line with spot physical prices, with a sharp rally near expiry. The author says demand is absorbing rising supply and high processing margins are keeping plants running.
Convergence at expiry and strong crush margins keep soybean meal supply tight relative to demand, supporting meal prices for feed buyers. Rail driver shortages add logistics friction to physical delivery.
czapp.comWalter CroninJul 25, 2022Not 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.
The July meal contract expired with a sharp rally, and demand absorbing supply plus high crush margins supported prices.
