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Most-active Chicago soybean futures rose 12.3% between August 1 and mid-September as Chinese import demand recovered and U.S. harvest began. Soybean prices in Brazil track Chicago closely and are holding near four-year highs after an autumn rally driven by storms, dry weather and strong exports.
Sustained high prices reflect tight export supplies from both the U.S. and Brazil, which raises feed input costs for buyers. The price strength depends on continued Chinese buying and South American weather.
reuters.comAna ManoNov 17, 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.
