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Chicago soybean futures rallied and soymeal hit a contract high on Friday on strong US demand. Argentine soymeal supplies are tight after drought cut production, and rumors suggested China had cancelled some Brazilian soybean cargoes.
Wheat fell after Ukrainian Black Sea shipments resumed following a pause.
Tight Argentine meal supply and possible Chinese switching to US beans support soymeal and soybean prices, important for feed costs. Wheat weakness reflects the resumed Black Sea flows.
brecorder.comReutersOct 28, 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.
