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Soybean futures were mostly modestly lower on spread trading and profit-taking, despite bullish NOPA crush data showing 189.0 million bushels crushed in November. Soybean oil stocks rose above expectations, and unknown destinations and China bought U.S. beans for 2023/24 delivery.
Strong crush and rising export sales support demand, but soybean oil stocks rising above expectations is a bearish signal for oil and an offset to meal supply tightness. Net price impact is limited.
brownfieldagnews.comDec 15, 2023Not 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.
