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Soybean futures rallied in May after funds cut short positions by 100,000 contracts amid flooding in Rio Grande do Sul that damaged about 3 million tons. U.S. crush has slowed, and exports are at a 19-year low as South America's record crop competes.
Brazilian flood damage supports prices short term, but weak crush margins and low exports weigh on the outlook for U.S. soybean meal and beans.
iasoybeans.comIowa Soybean AssociationMay 23, 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.
