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CBOT soybeans and corn gained over the past week on harvest delays and speculative short covering, according to Walsh Trading analyst Sean Lusk. Soybeans have rallied about 80 cents per bushel off lows, and soymeal is seen tight globally, with an upside target of $350 for December soymeal if it breaks above $327-$328.
Firm soymeal prices and expected seasonal strength in October-November support soybean prices, but a sustained rally needs a trade deal or other new demand. Bullish for soybeans and soymeal.
grainews.caGFM Network NewsOct 17, 2018Not 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.
