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Soy futures rose nearly 9% in the week ended February 1 and gained another 1.6% in the following three days. Fund bullish positioning in soybeans reached levels matching last year, driven by Brazil's shrinking crop, uncertainty in Argentina and rising US export demand.
Fund buying and supply concerns in South America are reinforcing the upward trend in soybean prices, which raises feed input costs for buyers.
reuters.comKaren BraunFeb 6, 2022Not 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.
