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ADM is idling its only Iowa soybean processing plant in Des Moines from mid-October through November for maintenance during the record US harvest. The plant crushes about 5 million bushels monthly, roughly 12% of Iowa's crush.
Cash soymeal prices at the Gulf rose to their highest in a decade on expectations of the shutdown.
Reduced crush cuts domestic soymeal supply for livestock feed buyers, supporting meal prices, though the record harvest limits the impact.
investing.comOct 4, 2024
reuters.comJulie IngwersenOct 4, 2024After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% over 20.
After 167 past bullish logistics events, Soybean Meal moved a median +0.5% over 5 sessions (54% higher; middle half -1.8% to +2.9%), and -1.2% 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.
