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US soybean meal export sales through mid-November totaled 4.60 million tonnes, the lowest in four years for that point in the marketing year and 42.3% of USDA's export projection. Domestic meal demand is also weak due to cheap wheat, abundant corn byproducts and low livestock margins.
Weak export and domestic offtake leaves US meal supplies heavy relative to demand, which pressures soybean meal prices even as soybeans and soybean oil rally.
dtnpf.comJoel KarlinDec 1, 2016Not 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.
