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Chicago soybean futures rose nearly 1% on strong export demand, higher soyoil and smaller pod counts reported on the Farm Journal Midwest Crop Tour. Export sales of over two million tonnes for the September-start shipping season beat analyst estimates.
Soyoil gained after a US Commerce Department decision to impose duties on subsidized Argentine biodiesel imports.
Tighter US soybean and soyoil supplies and the biodiesel duties support soybean and soyoil prices, while weaker pod counts put USDA's record crop forecast at risk.
grainews.caMichael Hirtzer, GFM Network NewsAug 24, 2017Not 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.
