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A Foresight Commodity Services analyst told a Sosland webinar that soybean oil futures averaged about 26 cents per pound in April, the lowest April level in 14 years. He forecast US soybean production rebounding to about 4.14 billion bushels in 2020 and said favorable oil prices could persist into autumn absent heavy Chinese buying or weather problems.
Ample US and South American supplies point to continued low soybean oil prices, which benefits buyers of oil-based feed ingredients. The outlook hinges on Chinese purchase volumes and weather.
world-grain.comJay SjervenJun 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.
