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Argentine soybean production has fallen over the last two years due to La Niña, and Argentine crushing volumes slowed about 5% in early 2022-23 and 10% in July. Chinese soybean crush margins have been near or below zero for much of the summer, and high soybean prices have been the main driver of weak margins.
Limited Argentine farmer sales and reduced crushing support soybean meal prices, while weak Chinese margins point to lower soybean import demand.
fastmarkets.comFastmarket teamNov 11, 2022Not 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.
