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US soybean futures for November delivery fell 2.9% to $10.18 a bushel in Chicago, the lowest since October 2020, as Midwest rain forecasts eased crop-loss worries. Export sales are slower than usual, and China's soybean meal stocks rose to a five-year high amid weak feed demand.
Expected bumper US supply and weak Chinese crush margins point to continued downward pressure on soybeans and soybean meal prices.
grain-protrade.comGrain ProTradeJul 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.
