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Soybeans closed modestly higher on commercial and technical buying, with soybean oil gaining on palm oil strength. Hot, dry weather in Argentina and southern Brazil and harvest delays in northern Brazil were noted, and unknown buyers purchased 132,000 tons of 2022/23 U.S. soybeans.
Dry South American weather and a Malaysian palm oil output cut support vegetable oil and soy prices. Chinese buying signals concern over Brazilian yields.
brownfieldagnews.comJan 5, 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.
Soybeans closed higher on technical and commercial buying amid hot, dry Argentine and southern Brazil weather, Brazilian harvest delays and new-crop export purchases, supporting the complex, though bean oil was the main leader.
