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Most-active CBOT soybeans fell on Wednesday to their lowest level since early December, ending nearly 6% below this month's high. New-crop November beans settled at $12.72-1/2 per bushel, more than 8% below the month's high.
Sustained futures weakness lowers the cost of soybean meal and oil inputs for feed buyers, though the slide reflects expectations of ample supply rather than a new shortage.
reuters.comKaren BraunMar 23, 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.
