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Soybean meal futures are above $500 per ton, a level StoneX's Craig Turner calls rare. Ag futures fell after southern Argentina got better-than-expected rain, though the forecast for central and northern Argentina remains dry.
Tight processing and Argentina weather risk keep meal near multi-year highs, which lifts feed costs for buyers. Rain relief in Argentina caps the rally until crop conditions are clearer.
stonex.comCraig TurnerFeb 13, 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.
