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Soybean futures have lost most of a early-March rally and are approaching the February low for July 2024 contracts. Export demand for U.S. soybeans has fallen as Brazilian and Argentine supplies increase.
An analyst suggests a summer rally could come later, and advises farmers to sell the 2024 crop into strength.
Weak U.S. export demand and large South American supplies keep soybean and meal prices under pressure. Crush demand is the main offset that could lift prices if it strengthens.
farmprogress.comNaomi BlohmApr 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.
