Loading…
Soybean oil futures extended their rally to a six-year high, while soybeans rose to their highest since June 2014 on expectations of record Chinese imports. Dryness in South America was also cited as a concern for world supply, though signs of beneficial rain in Brazil weighed on prices.
Strong Chinese buying and South American dryness tighten global oilseed supply, supporting soymeal and soyoil costs for feed formulators. Beneficial Brazilian rain is the main factor that could cap further gains.
feedandgrain.comDec 1, 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.
