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Soybean prices have fallen steadily over the past year, with Trading Economics data showing a drop from about $14.70 per bushel on 17 June 2023 to $11.60 on the same date this year. Flooding in Rio Grande do Sul has temporarily slowed the decline.
Large expected South American crops and ample carry-in stocks keep downward pressure on soybean prices, which feeds through to lower soybean meal costs for feed buyers.
foodnavigator.comAugustus Bambridge-SuttonJun 18, 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.
