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DTN analyst Todd Hultman describes a sharp March sell-off in soybeans, with Dalian May contracts hitting a new contract low after 11 sessions of drops. Soybean meal and oil also fell suddenly, and the USDA raised its 2022/23 export estimate to 2.015 billion bushels in the March WASDE.
Broad bearish momentum across soy complex products points to cheaper meal supplies for feed buyers, though the export estimate indicates underlying US demand remains firm.
dtnpf.comMar 24, 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.
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.
