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European soybean meal prices rose about 5% to $366-$377/mt CIF Netherlands since drought was declared in Argentina four weeks earlier, according to a leading supplier. Argentina's Rosario exchange reported crop deterioration in key northern and southern areas due to lack of rain.
Argentine drought threatens soybean and meal output from a major exporter, tightening global meal supplies and lifting prices for feed buyers in Europe and beyond.
spglobal.comJan 16, 2025After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
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.
