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Soybean futures fell over $1 on Thursday, a record one-day drop for a deferred contract, after trading down 60 cents before noon. Forecasts for cooler, wetter Midwest weather, talk of China curbing speculation, Fed rate-hike signals, and possible EPA biofuel waivers drove the selloff.
Lower soybean and soyoil prices reflect weather relief and biofuel policy uncertainty, which weigh on crush margins and feed meal values.
thedailyscoop.comTyne MorganJun 17, 2021Not 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.
Record one-day soybean drop of over $1 on cooler, wetter Midwest forecasts, China curbing speculation, Fed signals and biofuel waiver talk directly explains the sharp weekly decline.
