Loading…
South American soybean meal FOB prices fell to their lowest levels in over four years, with Platts assessing Brazilian Paranagua and Argentine Up River outright prices near $322 and $321 per metric ton on Nov. 14.
The decline followed weaker CBOT futures, strong crush rates in Argentina and Brazil, and weaker port differentials.
Lower South American meal offers reduce the cost of imported protein for feed buyers and pressure US meal values as Southern Hemisphere supply expectations grow.
spglobal.comNov 27, 2024Not 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.
