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Analyst Terry Reilly says CBOT soyoil is choppy after reports EPA may recommend cutting biofuel blending levels, partly offset by strong Indian vegetable oil buying. He sees December corn possibly rising 10-15 cents ahead of a Statistics Canada report and USDA crop progress, but doubts it will exceed $6.
Possible biofuel blending cuts would weaken soyoil demand, while India's buying supports vegetable oil prices. Corn's modest upside reflects dry conditions in the US and South America ahead of planting.
agcanada.comAGCanadaAug 25, 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.
