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A market analyst says lower soybean meal and oil prices may continue into early next year. He warns that soybean oil demand tied to sustainable aviation fuel and air travel could weaken if a recession cuts flying.
He also notes Brazilian drought weather premium is leaving the soymeal market.
Softer expected demand for oil and fading Brazil weather premium point to lower soymeal and soyoil prices, which lowers feed ingredient costs for buyers.
brownfieldagnews.comCarah HartNov 20, 2023Not 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.
