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Central Illinois soybean meal fell to a two-year low of $340.75 per short ton and soybeans hit a three-year low at $10.16 per bushel in the week to August 16. Soybean oil dropped 6.4% to 40.64 cents per lb.
Multi-year lows in meal and beans signal abundant supply and weak crush demand, keeping feed protein inexpensive. Buyers can expect continued soft pricing unless demand picks up.
thejacobsen.comAlexandra WattsAug 19, 2024Not enough comparable past events yet for a historical read.
Not 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.
