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Chinese analysts said flood-related output losses in southern Brazil still support US soybeans, but US export demand has weakened, with US bean exports to China down as much as 40% in the first four months of the year. They expect rising inventories and higher expected production to cap prices.
Weaker US export demand and expected supply growth point to downward pressure on CBOT soybeans, while domestic meal prices are being driven mainly by cost factors.
desk3.netMay 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.
