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ADM Investor Services reported that soymeal futures were near season lows on talk of higher South American supply, while soybean futures were oversold and China began buying a few cargoes of US new-crop soybeans. Soyoil was near the midpoint of its recent range, with palm and soy oil supply higher and rapeseed and sunflower oil supply tighter.
Expanding South American supply pressures soymeal prices, while China's new-crop purchases offer some support for soybeans. Soyoil is trading mid-range as competing vegetable oil supplies offset each other.
admis.comSteve FreedJul 22, 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.
