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CME soybean futures closed about 58 cents lower on Friday, with corn and wheat also declining. Traders cited improving Argentine weather, a firmer US dollar, Brazilian harvest progress and record-long speculative positions.
Soybean meal and soybean oil futures also fell.
Better South American weather and harvest pressure reduce near-term supply risk, while liquidation of record fund longs amplifies the decline. Soybean meal and oil weakness lowers feed-ingredient costs.
agriculture.comJan 23, 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.
