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A Rabobank analyst says US soybeans are likely to produce a good crop despite late-August heat, with farmers judging crops good relative to earlier expectations. He flagged falling Mississippi River levels as a basis risk and expected increased competition from Brazil in the new marketing year.
Low river levels raise transport costs and can widen local basis, while Brazilian competition in the new marketing year may cap export prices for US soybeans.
brownfieldagnews.comCarah HartAug 30, 2023After 230 past neutral logistics events, SOY moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% over 20.
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.
