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North American oilseed futures traded in narrow ranges in mid-February with little fresh news. ICE canola drifted lower before recovering most losses, and Chicago soyoil was in a downtrend while soymeal stayed firm.
Markets are watching South American supply, where Argentina's drought has cut soybean and corn estimates and Brazil's harvest is facing rain delays.
Argentina's crop losses are tightening expected soymeal and soyoil exports, which supports meal prices. Brazil's expected record soybean crop should offset much of that shortfall, which limits upside for the complex.
manitobacooperator.caPhil Franz-WarkentinFeb 23, 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.
