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Soybean futures closed higher on South American weather concerns, with Argentina and southern Brazil in extreme drought. Corn gained on a USDA sale of over 1 million tonnes to China, and crude oil gains lifted soyoil.
Drought in South America and fresh export sales to China support soy and corn prices, while higher crude supports soyoil through biofuel linkage.
brownfieldagnews.comadminApr 4, 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.
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.
On April 4, crude oil gains and South American drought concerns lifted soyoil, which is a plausible demand and input-cost driver for the upward move.
South American drought threatened supply and crude oil gains lifted soyoil, adding input-cost and biofuel-linked demand support.
