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Soybean futures on the CBOT ended slightly higher on short covering after weak export demand and forecasts for a large US harvest had pushed prices to multi-year lows. Brazil's Conab trimmed its 2023/24 soybean crop estimate slightly, and corn futures rebounded from near four-year lows.
Short covering offers only a modest floor while a large US crop outlook and soft exports keep the supply outlook heavy, so feed buyers see little price relief.
tridge.comEconomic timesJul 12, 2024Not 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.
