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US soybean carry-out is approaching unsustainable levels below 100 million bushels, raising questions about whether soybean meal prices are high enough to trigger domestic demand rationing. July soybean meal is near $460 per short ton, close to levels that previously caused demand cuts.
If meal prices force domestic use cuts, crush rates could slow, which would reduce meal supply and keep soymeal prices elevated for feed buyers.
farmprogress.comLarry ShonkwilerJan 18, 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.
