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U.S. milk futures were nearing a nine-month high near 17 cents per pound, while global dairy prices had fallen to an eight-month low. Soybean prices neared $10 per bushel on hopes of stronger Chinese hog-feed demand and concerns about dry weather in Argentina.
Low global dairy prices could eventually undercut U.S. milk prices through cheaper imports, while firm soybean prices reflect demand from China and tightening South American supply expectations that raise feed costs.
greenbaypressgazette.comAlex BreitingerNov 24, 2017Not 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.
