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Soybean oil rallied about 2% and led grain and oilseed markets higher, with canola up $4/t and soybeans up nearly 10 cents. Rumors circulated of China buying US soybeans off the Pacific Northwest and of drone damage at Ukrainian ports, though neither was confirmed.
Soybean oil strength and unconfirmed China buying support soybean complex prices, while Brazil flooding and replanting create uncertainty for second-crop corn.
stonex.comStoneX Grains Team- CanadaNov 20, 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.
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.
On 2023-11-20 soybean oil led CBOT higher, with canola up $4/t and soybeans up, plus unconfirmed China buying of US soybeans and Ukrainian port drone rumors, creating sentiment-driven oilseed gains that could spill into canola meal.
