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Corn, soybeans, soyoil and wheat all fell on May 19, 2021, as rising production estimates and favorable global weather weighed on the grains. Soyoil dropped $1.43/lb and soymeal fell $0.40/ton in early trade.
The report also noted that EIA expects summer gasoline demand to stay below 2019 levels.
Improved crop prospects increase expected supply, which pushes grain and oilseed prices lower. Softer ethanol demand outlooks could also limit corn use for fuel.
beachnergrain.comMay 19, 2021Not 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.
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.
