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UFOP reported that conventional soybean meal prices firmed substantially at the end of November 2017, with 48% protein meal up about 14% from the September low to EUR 333 per tonne. Dry weather in Argentina, the largest soymeal exporter, raised concerns about soybean crop losses and reduced crushing, and planting was only about half complete.
Argentine dryness threatens soymeal export supply, so the price rise could persist if planting delays and crop stress continue.
biofuelsdigest.comadminDec 16, 2017After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
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.
