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Soymeal futures fell 2.4% to 2.9% on Friday, losing as much as $13.50 per ton, though they finished the week up $3.90. Soybeans declined on the week and soybean oil closed higher.
The International Grains Council raised its world bean production estimate to 395 million tonnes.
Routine weekly price moves with a higher IGC world bean output estimate add mild bearish pressure to soybeans, while meal's weekly gain keeps crush margins supported.
barchart.comAlan BruglerNov 17, 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.
