Loading…
Soybean meal futures have rallied over $70 per ton in five weeks to 18-month highs, lifting cash meal, canola meal and DDG prices. The surge is tied to worsening Argentine drought and heavy fund buying, with funds reportedly holding their largest soymeal long ever.
Argentina is the largest exporter of soymeal, so lower Argentine output shifts export demand toward U.S. meal and supports protein meal prices that feed buyers pay. The soymeal/corn ratio has reached its highest since August 2016, making meal relatively expensive versus corn.
dtnpf.comJoel KarlinFeb 21, 2018Not 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.
