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CBOT soybean futures fell to a new three-year low on February 29 amid improving South American weather, weak US export sales, and heavy contract deliveries. Corn was mixed and wheat was pressured by global export competition and a stronger dollar.
The most active soybean contract settled at $11.40-3/4 per bushel.
Ample supplies across the Americas and Black Sea keep soybean and meal prices under pressure, favoring buyers of soybean meal. A stronger dollar also weighs on US grain prices for export competitiveness.
manitobacooperator.caGFM Network News, P.J. Huffstutter, ReutersFeb 29, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
