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Soybeans closed sharply higher on October 15, 2018, on speculative buying while USDA showed 38% of the crop harvested versus 53% on average after wet, cold weather. Rumors of China buying soymeal lifted meal and bean oil, while high Mississippi River water closed some locks.
NOPA reported September soybean crush of 160.8 million bushels, up 18% year on year, and Brazil's planting was 20% complete.
Rumored Chinese meal demand and delayed US harvest support soybean, meal and oil prices. River lock closures add logistics cost pressure on barge movements.
brownfieldagnews.comOct 15, 2018Not 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.
Oct 15 soybeans closed sharply higher on harvest delays (38% vs 53% average), rumors of China buying soymeal and a strong NOPA crush, which lifted meal.
Oct 15 soybean rally on harvest delays, China soymeal buying rumors and a record NOPA crush lifted bean oil, but it falls after the Oct 14 window end so it only partially fits.
