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Agricultural futures gave back their Christmas rally in the first week of 2023. Market analysts cited Argentine and southern US rain, weak wheat and corn export demand, and record South American soybean crops expected from Brazil.
Expected record Brazilian soybean output and weak US export demand weigh on soybean meal and grain prices. Energy strength tied to China reopening concerns provides partial support.
agweek.comMichael JohnsonJan 6, 2023Not 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.
