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Forward indicators for UK soymeal prices have turned lower for coming months as ample supplies weigh on sentiment. Soymeal peaked above £390 per tonne in September after USDA reported US stocks at 14-year lows, but September US stocks came in more than 2 million tonnes above trade expectations.
Expected ample supply and early Brazilian record harvest prospects point to softer soymeal prices, which benefits UK feed buyers.
poultry.networkKen RandallOct 7, 2021Not 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.
