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Rabobank said global soybean supplies in 2023/24 are outpacing demand, which will raise global inventories. China's soybean crop was its largest ever, its January imports fell 15%, and the US share of its imports dropped to 44% from 81%.
Hedge funds have built a sizeable short position on the Chicago Board of Trade.
Surplus supply and softer Chinese import demand weigh on soybean and meal prices. Continued fund selling could push prices lower in the near term.
sfs.org.auMar 3, 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.
