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Soybean futures fell in the week before May 21 and moved in a narrow band despite the May WASDE projecting 530 million bushels of ending US stocks. Prices were pressured by trade uncertainty, a large Brazilian crop, and weaker South American currencies, while the July-November spread turned negative.
Heavy Brazilian supply and currency-driven selling by Brazilian farmers add competition for US exports, weighing on soybean prices.
u.osu.eduJohn atMay 21, 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.
