Loading…
November soybean futures have fallen more than $1.25 per bushel since August 28, despite early harvest reports suggesting yields below USDA's 50.1 bushel-per-acre estimate. Analysts flag $12.75 to $12.80 as key chart support.
Expectations for a record Brazilian crop and a rebound in Argentina are adding to the pressure.
Expected South American supply gains of around 30 million metric tons outweigh tight US ending stocks, so prices remain under pressure unless support breaks or US yields disappoint.
dtnpf.comDana MantiniSep 25, 2023Not 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.
