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Soybeans failed to break $12 on December 16 as meal-led gains lifted the complex. StoneX analyst Phillip Claussen cited Argentine labor strikes hampering exports and crush, plus a big jump in meal exports in the NOPA report.
Meal leading the soybean complex higher signals firm meal demand and supports soybean and meal prices.
rrfn.comCarah HartDec 16, 2020Not 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.
Meal-led gains on Dec 16 were attributed to Argentine strikes hampering crush and exports plus a big jump in NOPA meal exports, showing the strike and demand supporting meal within the window.
