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Argentine soybean meal export prices fell to a discount to CBOT futures for the first time in nearly two years, with FOB Up River basis at minus $2/st. Brazilian suppliers gained presence at lower prices as the real weakened, and S&P Global expects Argentine crush to rise almost 40%.
A negative basis and rising crush increase meal export availability, pressuring soymeal prices globally and favoring Brazilian and Argentine supply in feed markets.
spglobal.comFelipe Peroni, Jose Roberto GomesJun 28, 2024Not 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.
