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At the AgOutlook Conference in Sioux Falls on December 7, analyst Tregg Cronin said South American weather is the main market driver for 2024, along with Argentina's new presidential administration and high interest rates. He said rates affect fund positioning in commodities and farmers' grain storage costs.
Expectations for South American crops and higher financing costs for storage and funds shape the price outlook for U.S. soybeans, which feed buyers track for 2024 contracts.
agweek.comAriana SchumacherDec 18, 2023Not 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.
