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DTN reports that cash and futures soybean meal prices were volatile in 2023 and expects prices to ease in 2024. Argentina is on track for a larger soybean crop after favorable El Niño-linked rains.
A larger Argentine crop should boost meal export supplies and pull down meal prices, which is good news for pork and poultry feed costs.
dtnpf.comTodd HultmanJan 5, 2024After 118 past bearish weather events, Soybean Meal moved a median -0.8% over 5 sessions (35% higher; middle half -3.2% to +0.4%), and -1.6% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
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.
