Loading…
Chicago soybeans recovered slightly from a three-year low hit the previous session, trading near $11.45 a bushel. Large South American supplies and weak demand for US cargoes were expected to limit gains.
Abiove cut its 2024 Brazilian soybean output estimate to 153.8 million tonnes because of adverse weather, though that is still close to last year's record.
Heavy Brazilian and Argentine supply priced competitively against US beans keeps downward pressure on soybean and meal values, which lowers feed input costs for buyers.
brecorder.comReutersMar 1, 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.
