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CBOT soybeans dropped double digits on January 25, 2024, with March closing at $12.23 after weak ethanol output and softer crush expectations. USDA export sales of 560,869 MT were below expectations and only 57% of last year's volume.
Canadian canola also fell over 1.5% to near contract lows.
Weak export bookings and reduced crush expectations point to ample near-term supply and lower meal and oil demand. This keeps downward pressure on soybeans and soymeal prices for feed buyers.
barchart.comAlan BruglerJan 25, 2024Not 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.
