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Soybeans fell sharply on fund and technical selling even as China and Mexico bought new-crop US beans. Rain forecasts for dry Midwest and Plains areas pushed corn lower, and soybean meal dropped with weaker vegetable oils, especially palm oil.
Palm oil was pressured by slow Malaysian exports and expectations of higher output.
Palm oil weakness spills over into soybean oil and meal, while rain reduces the weather premium in corn and soybeans. Continued export buying limits the downside for soybeans.
brownfieldagnews.comAug 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.
