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US soybean futures rose about 1% on bargain buying and uncertainty about South American crop prospects. Soybean oil advanced about 2% after Indonesia raised its crude palm oil export levy, and corn rose while wheat declined.
A higher Indonesian palm oil levy makes Malaysian palm oil relatively more expensive, which can shift demand toward soyoil and support its price. South American weather uncertainty keeps soybean meal costs elevated for feed mills.
grainews.caJulie Ingwersen, GFM Network NewsDec 3, 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.
