Loading…
Soybean meal futures rallied to their highest levels since June, with the expiring December contract above $400 per short ton. Soybean oil's share of the combined crush value fell to 39.1% from 49.2% on October 12, while soybean oil prices dropped to their lowest since June.
The unwinding of the long oil-short meal spread is lifting meal on tight supplies, strong demand, lysine shortages and lower Canadian canola meal output, which supports feed costs for buyers. Lower oil values are weighing on soybeans despite the meal-driven bounce.
dtnpf.comJoel KarlinDec 15, 2021Not 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.
