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Chicago soybean futures rose to a six-week high on Monday as speculators bet on higher prices amid strong demand for US beans and soymeal. CBOT December soymeal gained about 15% in October after reaching a contract high on Friday.
US soymeal exports are heading for new highs after a poor Argentine harvest.
Tight Argentine meal supplies are lifting global soymeal prices, which feeds directly into feed costs for livestock and poultry buyers. Strong meal demand is pulling soybean futures higher.
brecorder.comReutersOct 30, 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.
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.
