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A new soybean crush facility is opening near Alta, Iowa, adding local processing capacity. US soybean meal exports reached a record 13 million tons last year and are running ahead of last year's record pace by double digits.
Analysts expect meal demand could ease as more South American product reaches market.
Expanding crush capacity supports soybean demand and local basis, while record meal exports underpin meal prices. Rising South American meal supplies later in the year are a bearish offset for meal.
iasoybeans.comIowa Soybean AssociationMay 2, 2024Not 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.
