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Soybean futures have traded below $10 per bushel for most of the last four months, and on Wednesday broke through the August low. Soybean meal fell well below $300 per ton and soybean oil traded under 40 cents per pound, while November crush was 3.5 million bushels below expectations.
Weak meal and oil prices combined with falling crush margins signal a bearish soy complex, lowering the cost of soybean meal for feed buyers. Reduced crush margins may also slow processing and meal output.
farmweeknow.comDELOSS JAHNKEDec 18, 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.
Soybean futures broke through the August low and meal fell well below $300/t, and weak crush margins suggest oversold conditions that could set up a sharp technical rebound.
