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CBOT March soybean futures climbed to their highest continuous level since June 2014, with new life-of-contract highs in soymeal and soyoil. The rally followed backed-up Argentine ports during a port labor strike and a cut to Brazil's 2020/21 soybean crop forecast to 127 million tonnes.
Port disruption in Argentina and a smaller Brazilian crop reduce export supply just as China is expected to import a record volume. Feed buyers should expect continued upward pressure on soybean meal and oil prices.
brecorder.comReutersDec 22, 2020Not 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.
