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The July-November soybean spread has weakened as the 2017/18 US stocks-to-use ratio reached 10.0%, the loftiest in 11 seasons, due to record South American output and a large US crop. The current 20-cent July premium may be a selling opportunity.
Ample US stocks and record South American supply point to softer old-crop soybean values relative to new crop, lowering near-term feed cost pressure.
dtnpf.comJoel KarlinDec 8, 2017Not 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.
