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US soybeans rose on commercial and technical buying after oversold conditions, helped by a higher move in soybean meal. Soybean meal gained on solid demand and expectations of lower cottonseed meal availability.
Soybean oil fell despite gains in palm and crude oil, although biofuel incentives under the Inflation Reduction Act remained supportive.
Expected tighter cottonseed meal supply supports soybean meal as a substitute protein for feed buyers. Soybean oil's weakness despite biofuel support points to limited near-term upside for oil.
radiokeokuk.comWritten by: Leah JonesAug 17, 2022
1230kfjb.comAshley AndersonAug 18, 2022Not 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.
