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Chicago soybean futures rose on Tuesday, led by soybean oil, which hit its highest most-active level since 2012 on tight global edible oil supplies. Corn and wheat also moved higher, with corn supported by Brazil's late-planted crop and Chinese purchases of U.S. corn.
Traders were positioning ahead of USDA's March 31 reports.
Routine price moves in the soybean complex reflect vegetable oil tightness and biofuel expectations, which support soybean and corn values for feed buyers. Pre-report positioning adds short-term volatility.
agcanada.comAGCanadaMar 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.
Soyoil led the soybean complex to its highest most-active level since 2012 on tight global edible oil supplies, closely matching the large move.
