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Soybean oil swung from limit up on Monday to limit down on Thursday and Friday, dragging soybeans lower. Analysts pointed to a lack of recent US soybean export sales and improved South American weather, with the upcoming USDA March 31 reports seen as key.
Improved South American weather and weak US export demand weigh on soybean prices and the meal complex, while tight corn stocks could push feeders toward wheat as a substitute.
agweek.comMichelle RookMar 26, 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.
Documents soyoil swinging from limit up to limit down on Thursday and Friday, citing weak US export sales and improved South American weather, which dragged the complex lower.
Describes the swing from limit up to limit down with weak export sales and improved South American weather, showing the sentiment reversal behind the selloff.
