Loading…
Funds added nearly 100,000 soymeal futures and options contracts to their net long over five weeks to November 14, the largest such build since March 2020. January meal rose 21% over that period and hit record highs for the date before retreating in the latest sessions.
Tight Argentine meal supply and hot, dry Brazil weather drove export demand toward the US and lifted meal prices, though expected rain now threatens the rally.
reuters.comKaren BraunNov 20, 2023Not 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.
