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USDA projects the average soybean meal price for the 2024/25 crop year to fall nearly 20%, to a season average near $320 per short ton. The forecast reflects strong competition from larger Brazilian and Argentine crops, with Brazil's crop projected at about 140% of the US 2024 crop.
A lower official price outlook signals expected ample global meal supply, which points to softer US and export meal prices through the marketing year.
lacocommodities.comDavid TedrowNov 14, 2024After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
