# Funds pack on more CBOT beans, meal on Brazil weather and US demand

> 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.

- Date: 2023-11-20 · published 2023-11-20T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/12471-funds-pack-on-more-cbot-beans-meal-on-brazil-weather-and-us-demand
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

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.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/us/funds-pack-more-cbot-beans-meal-brazil-weather-us-demand-2023-11-20/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.