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CBOT November soybean futures fell to their weakest level since June 25, touching $12.62 a bushel, after breaking below the 200-day moving average. Analysts attributed the slide to rising supplies as the US harvest began and to spillover pressure from falling crude oil and equities.
Harvest selling increases available supply while weaker crude weakens soyoil's biofuel link, both pressuring soybean and soymeal prices. The move is routine price commentary with no major new supply shock.
brecorder.comReutersSep 20, 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.
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.
