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Soybean meal rallied strongly on tighter South American supply, nearly doubling in value relative to DDGS. Corn futures closed lower as crude oil fell on China's COVID lockdowns and OPEC supply expectations.
A strong soymeal rally lifts DDGS as a substitute in feed rations and supports corn, while the crude oil drop weighs on the energy complex and ethanol-linked demand.
totalfarmmarketing.comBryan DohertyMar 14, 2022Not 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.
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.
