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U.S. soybean futures rose about 2% on Friday, led by a sharp rally in soymeal tied to technical buying, brisk feed demand and logistical hurdles. U.S. wheat futures hit their highest in nearly nine years, with December wheat reaching $8.26-3/4 a bushel.
Strong soymeal demand from feed rations, possibly including more meal use in place of corn, supports the protein complex and raises feed input costs for buyers. Tight global grain supplies lift wheat and corn as well.
grainews.caJulie Ingwersen, GFM Network NewsNov 13, 2021Not 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.
