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The weekly SaskCanola outlook reports a sharp sell-off across the US soybean complex, with CBOT November soybeans down 44 cents and soybean meal down $5.40 for the week. US export sales of 434k MT came in well below trade estimates, while Chinese data showed Brazilian soybean imports up 45% and US imports down 58% year on year.
Weak US export sales and Brazil gaining share of China's soybean imports pressure US soy and meal prices, and cheaper soymeal competes with canola meal.
saskcanola.comWritten By SaskOilseedsSep 26, 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.
