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Analysts say a large US soybean crop and sluggish exports are holding back soybean prices and preventing canola from rallying at the end of August. USDA forecast record US soybean production of 124.9 million tonnes, while Pro Farmer estimates about 129 million tonnes.
Expectations of a large US supply weigh on soybean and canola prices and limit upside for meal. Buyers can expect continued pressure unless export demand improves.
producer.comSean PrattAug 30, 2024Not 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.
