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Soybean futures rallied to new highs last week on COVID-19 vaccine optimism and reduced 2020/21 supply estimates, with Jan-21 soybeans up $0.47/bushel. Brazilian planting was 84% complete, but dry weather through December could hurt yields.
A very tight US soybean balance sheet, with export commitments at 85% of forecast, and Brazilian weather risk support soybean and meal prices into the new year.
mckeany-flavell.comNicole ThomasNov 16, 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.
