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DTN analyst Todd Hultman notes soybean meal settled at $314.10 per short ton on October 14, its lowest in over a year, and futures are at their lowest in eight years. Meal has also fallen relative to corn to the cheapest level since 2013.
Cheap meal relative to corn favors meal use in feed rations and supports buying interest, though the price trend itself is bearish for meal sellers.
dtnpf.comTodd HultmanOct 15, 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.
