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December soybean meal closed at a three-month high on July 27, breaking out of a five-month sideways pattern. Speculators kept accumulating meal positions while other grains were liquidated, and Illinois cash meal premiums rose sharply, pointing to commercial buying.
Commercial buying and rising cash premiums signal firm meal demand, which supports feed-meal prices for buyers.
dtnpf.comTodd HultmanJul 29, 2022Not 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.
December meal broke out of a five-month range to a three-month high, with speculative buying and rising cash premiums adding momentum.
