
December soybean meal rose $7.20 overnight to a new 2.5-year high, keeping November soybeans near their contract high. Forecasters expect heavy rain across the Northern Plains and upper Midwest through the weekend, with cooler air moving into the northern tier.
The report also notes ongoing Russian and Ukrainian strikes on each other's infrastructure.
Meal strength is the main driver of the soy complex this week, and weather-related harvest delays in the Midwest could keep supplies tight. Buyers should expect soybean meal to stay firm in the near term.
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.