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Consultant Gordon Denny told buyers at a US Soybean Export Council conference in Bogota that new US crush plants will lift soybean meal output by about 10 million mt, from 48 to 58 mmt, by 2026. He argued that renewable diesel demand is driving this expansion and that the added meal supply will lower meal prices.
A rapid rise in US crush capacity means more soybean meal supply, which is bearish for meal prices and could lower feed costs for livestock buyers.
iasoybeans.comIowa Soybean AssociationJun 20, 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.
