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December soybean meal closed at $381.20 on September 29, down $22.80 on the month and below its 100-day average. December soybean oil closed at 55.83 cents, its lowest in three months, after a steep fall in RIN prices suggested 2023 renewable fuel output was nearing mandated levels.
Falling RIN prices suggest renewable fuel demand for soyoil may ease, and weaker soymeal prices lower the cost of protein for feed buyers, with the trend pointing down for both products.
dtnpf.comTodd HultmanOct 2, 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.
