Loading…
Soybean futures suffered their largest single-day drop on record on June 24, with July and August contracts closing down more than $1 per bushel. The selloff was driven by forecasts for cooler, wetter Corn Belt weather, extended price limits, and concerns about Fed rate hikes, possible Chinese speculation curbs, and biofuel exemptions.
The sharp break lowers soybean and meal prices and reflects weather-driven demand concerns, though a stronger dollar and policy uncertainty add volatility for feed input costs.
agweb.comTyne MorganJun 24, 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.
