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UFOP reports that European asking prices for conventional soybean meal fell 14-16% from early May highs, to EUR 333-363 per tonne. Chicago soymeal futures have declined steadily since May, and the outlook is bearish.
Ample Brazilian supply, good US growing conditions and the US-China dispute are pushing soymeal lower, lowering feed protein costs for buyers.
biofuelsdigest.comadminJun 24, 2018Not 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.
