Loading…
Soybeans set a new record short position and the soy complex fell further, with soymeal hitting a new contract low. A strategist attributed the drop to a reversal after optimism about a China trade deal faded, and to South American soymeal competitiveness.
Soymeal is losing market share to South American supply and the trade deal optimism has faded, so the feed-relevant soymeal price outlook stays bearish.
iowaagribusinessradionetwork.comStaff EditorMay 2, 2019Not 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.
