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CME soybean meal futures have faced sustained downward pressure after reaching multi-year highs in early 2023. The October monthly average for CME meal was $317.38 per short ton, down $84.59 year on year.
Persistent futures weakness reflects rising global stocks and harvest supply, keeping US meal prices under pressure for feed buyers.
thejacobsen.comAlexandra WattsNov 11, 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.
