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Soybean meal prices could reach about $280 per metric ton by December 2017 absent unforeseen crop problems, according to an analysis of historical August-October meal behavior after July rallies. December meal traded near $335 at the time of writing, with 2017 ranking as the third-highest year for prices since 1986.
Years with a July weather rally and real yield shortfalls saw prices rise into autumn, so buyers face upside risk if weather problems develop, while the base case points to lower meal prices.
wattagnet.comMatt BeesonAug 1, 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.
